Cannabis Marketing Startup Fyllo Raises $16 Million

Israeli-linked cannabis marketing technology developer Fyllo has raised a $16 million seed round, the company announced Wednesday. The round was led by New York-based JW Asset Management. LLC and Toronto-based K2 & Associates.

Founded earlier this year by Israeli entrepreneur Erik Shani, together with Michael Chock and Aristotle Loumis, Fyllo offers online marketing services to cannabis brands including data analytics and ad campaign management. Based in Chicago, Fyllo also operates a research and development operation in Tel Aviv. Fyllo, which currently employs 12 people according to Linkedin, said it will use the funds to more than double its staff in the coming months.