Friday, January 9, 2015

Latest Seattle Venture Backed Startup Fires Up With Founders Fund Investment

One of the newest, venture backed startups in Seattle and said Thursday that it has received its first, institutional investment--the twist? This startup isn't working so much on Seattle's typical technology, e-commerce, software, or biotech industries--but it focused on marijuana investments. Privateer Holdings said it raised funding from none other than Bay Area startup venture investor the Founders Fund, which has backed such companies as SpaceX, Airbnb, Lyft, SolarCity, Spotify, Yammer, Oculus, and many other high flying Silicon Valley startups. Privateer holdings said it is focused on investing in the legal cannabis industry, investing in such companies as Leafly, an online site with marijuana information; Tilray, a medical cannabis grower; and Marley Natural, a brand which offerse up cannabis- and hemp-focused products using the likeness of Bob Marley.