Cannabis Startups Raised $104M in 2014

February 4, 2015

8:00 am

I recently wrote about WeedHire’s Q4 cannabis jobs report for 2014, and it told a tale of a legal cannabis industry that’s slowly, but surely, emerging. And then, recently, I saw that CB Insights had released a ranking of cannabis startups funding in Q4 2014: it matches very closely with the trends purported in the WeedHire Q4 jobs report.

According to CB Insights’ article, cannabis startups have raised a total of $104 million across 59 deals in 2014. Among this group was what a lot of people would call ‘The First Domino’: Peter Theil’s announcement that Founders Fund would participate in the $75 million investment into cannabis venture Privateer Holdings.

That is to say, Thiel was the first big time investor to jump on board the cannabis hype train despite the fact that many top level investors, angels, and VCs were hesitant to do so. It’s going to take more people like Thiel to destroy the ludicrous stigma still associated with cannabis and cannabis related ventures.

However, Thiel’s involvement did spark a revolution of sorts. According to CB Insights, via aggregated funding data, 2014 saw investors light up the space as marijuana related ventures raised capital. To that end they formulated this chart:

weedfunding1

From CB Insights (http://bit.ly/1DCt9Ub)

In addition, CB Insights highlighted five cannabis startups that have raised funding in the last year (2014). They range all the way from medical marijuana distributors all the way to care technologies for the industry.

cannabis2

From CB Insights (http://bit.ly/1DCt9Ub)

So, what does all of this say? It’s quite simple, really: cannabis is booming. I’ve said it once and I’ll most likely say it a thousand more times, but now, not later, is the time to throw yourself in with this lot.

 

 

 

 

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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