About this raise: Drop Delivery (formerly Drop Technologies), with a valuation of $16 million, is raising funds on Republic. The company provides last-mile delivery to cannabis retailers. The service is available to developing cannabis brands made for both medical and recreational purposes. Drop Technologies works to advertise these companies, deliver their products, and collect digital payments. The company is profitable with $94,000 in MRR and reported a 219% year-over-year revenue growth in 2022. Vanessa Gabriel, Marc Lopez, and Jade Gabriel founded Drop Technologies in 2019. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $5 million. The campaign proceeds will be used to support the strategic expansion into new markets, team growth, and building out new features and products.
Investment Overview
Invested : $201,779
Deal Terms
Total Commitments ($USD)
- Platform
- Republic
- Start Date
- 10/20/2022
- Close Date
- 02/11/2023
$25,000
$5,000,000
$150
SAFE
Seed
RegCF
$14,000,000
$16,000,000
0%
Company & Team
Company
- Year Founded
- 2019
- Industry
- Logistics, Delivery, & Supply Chain
- Tech Sector
- Distribution Model
- B2B
- Margin
- High
- Capital Intensity
- Low
Financials
- Revenue +207% YoY
- $739,264
- Monthly Burn
- $66,934
-
Runway
- 0.3 months
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,069,868
- VC Backed?
- No
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.