July 28, 2017
It's no secret why the business world is taking notice of the cannabis industry. Between Colorado's exploding economy and recreational legalization hitting more states every year, investors, accelerators, incubators, and everyone in between is looking to get a piece of the pipe. And with cannabis looking like the goose that lays the golden egg, it's easy to see why there's so much capital flying around, making Canopy Accelerator's $1 million investment in eight cannabis tech startups that much more reasonable.
The Colorado-based venture fund and business accelerator focuses on companies developing ancillary products and services for the legal cannabis industry. Their Fall cohort for 2017 is filled with companies that are destined to revolutionize the industry in one way or another.
“The cannabis industry in Colorado has shifted from just keeping up with demand to competing and stealing market share from one another,” said Patrick Rea, cofounder and managing director of Canopy in a statement. “The result is increased interest in, and demand for the cannabis technology companies that Canopy is investing in. We expect this trend to continue nationwide as state markets mature.”
If you're interested in what kind of companies will make up the Canopy Accelerator's Fall cohort, take a look at them below and check out their websites. They're pretty groovy, man.
This Colorado-based company is developing automated grow tech solutions for medium to large-scale cultivators. Founded by Mark Stratton of Silverthorne, CO and Russ Baker of Black Hawk, CO.
My THC Guide
My THC Guide is developing chatbot solutions for the cannabis industry. Founded by Ebony Costain of Appamattox, VA and Jameson Bennett of Louisville, KY.
This company as created a cloud-based integrated quality management system designed for licensed businesses to have transparency into their supply chains. Founded by Donavan Bennett of Roswell, Georgia and Joe Novalanyof Edison, New Jersey.
This company encourages an outdoor, active lifestyle by leveraging technology. Founded by Ed Mcllory and Adam Bray, of London, England.
Redfield Proctor is a startup in stealth mode focused on efficiency in the cannabis industry. Founded by Stephen Martin of Quechee, Vermont.
This company manages, monitors, and mines cannabis industry reviews to identify new opportunities and trends. Founded by Matt Cooke of Marion, OH.
DeepGreen is an optical recognition technology that identifies plant characteristics using AI and machine vision technology. Founded by an international team hailing from Germany and France – Maxime Clauss and Maximillian Unfried.
This company manages a network of digital flat screens in dispensaries across the country that rotate menu information and advertising to inform and target customers in the store. Founded by Ryan Sterling, a native of Turner, ME, and Martin DeFrance of Jackson, MS.
Read more about cannabis tech on TechCo
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