By Chloe Aiello
The next big thing in cannabis might just be very small. Precision dosing device company Indose landed $3.5 million in funding from Snoop Dogg's venture capital firm Casa Verde Capital. CEO and co-founder Benzi Ronen said the device has broad appeal for its ability to help users reclaim power over their experiences at a time when potent cannabis is readily available in many states.
"Microdosing gives you the control to have the experience that you want to have. So it kind of empowers the user, as opposed to the plant taking over and doing whatever it does to you," Ronen said.
Ronen said the idea was born out of a brainstorming session with co-founders Ari and Dani Freeman. The three were attempting to drum up inspiration for a new startup when they turned to marijuana. But Ronen said they wanted to get just a little high.
"We wanted to take just enough to enlighten us and create that creativity, but not enough to get stoned. We were looking for a device that would give us that kind of finesse to be able to tune that in, and we didn't find anything. And that became the inspiration," Ronen said.
The founders then spent three years developing the precision dosing technology used in the Indose. Each device contains two sensors that take 10 measurements per second of vape speed and density to gauge just how much is being consumed in increments as low as 0.5 mg.
"Precision is what we're all about," Ronen said.
Ronen described Indose as the "Keurig device that delivers the experience," because the company doesn't supply its own oil. It instead partners up with local companies that manufacture or supply oil. That likely made the company more attractive to Casa Verde, which focuses primarily on ancillary cannabis businesses ー or businesses that do not actually touch the plant.
"We believe precise, self-regulated and responsible dosage will be the next frontier in vape delivery systems, and Indose is ahead of the curve with a device that brings medical precision to the mainstream," Karan Wadhera, Managing Partner of Casa Verde Capital, said in a statement.
Founded in 2015, Casa Verde Capital boasts a portfolio of investments in ancillary cannabis companies like delivery app Eaze, wholesale marketplace LeafLink, and cannabis compliance and point-of-sale software platform Green Bits.