Snoop Dogg invests in pot delivery start-up 'Eaze'

SAN FRANCISCO, April 15 (UPI) -- Snoop Dogg is investing in what he knows best: weed.

The rapper's venture firm took part in raising $10 million for new pot-delivery startup, Eaze, this month, and it should go as no surprise. The surprise, though, lies with the company itself, which is the first of its kind to attract such interest by corporate investors, historically skittish about investing in marijuana.

The on-demand pot delivery service raised the sum during its first significant round of capital investment -- and the event is unprecedented, reports Quartz.com. DCM Ventures led the series A round, with 500 Startups and Snoop Dogg's Casa Verde Capital also investing.

DCM anticipated that "the medical marijuana market would continue to grow, and from a regulatory perspective, it would move toward deregulation," principal Kyle Lui told Quartz. "Things accelerated much faster than we had anticipated."

During Eaze's beginning stages in November 2014, it raised $1.5 million, which helped it to enable more than 30,000 on-demand medical marijuana deliveries. All customers must be legally verified patients with a prescription for the plant and must reside in places where the consumption of medical marijuana is legal.

Business Wire released a statement by Eaze CEO Keith McCarty, verifying the success. "The new funding enables us to expand rapidly by further developing our technology, building new dispensary partnerships and scaling our team for hyper-growth as we expand nationwide where marijuana is legal," he said.

This isn't Snoop's first rodeo when it comes to investing, nor will it be his last. The self-proclaimed venture capitalist also invested in other tech startups like Reddit and stock trading platform, Robinhood, in recent months.