Sales, Funding & Banking News

Finance: Sales, Funding & Banking News

Week in Review: Washington organic marijuana, PA liquor stores & Minnesota red ink

By Bart Schaneman, Omar Sacirbey and John Schroyer Washington state signs off on an organic marijuana certification program, Philadelphia’s mayor says state-run liquor stores should handle recreational sales, and Minnesota’s two medical cannabis businesses bleed red ink. Here’s a closer look at some notable developments in the marijuana industry over the past week.

Read More

Cannabis testing lab Steep Hill clinches $2 million funding

Steep Hill Labs has finalized a $2 million private investment round, funds the marijuana testing company plans to use to scale up its operations. Jmichaele Keller, CEO of California-based Steep Hill, said in a news release that an investor from a traditional money manager role on Wall Street invested $1.5 million of his personal funds into the company. Steep […]

Read More

Cannabis-based biopharma firm Teewinot raises $12 million

Teewinot Life Sciences – a Florida company that develops synthetic, cannabinoid-based medical therapies – raised $12.3 million in a Series B funding that attracted strong investor interest. It’s the latest sign that investors remain keen on the marijuana sector. And it comes despite Trump the administration’s mixed messages about marijuana policy. Teewinot said in a news release the funding […]

Read More

Chart: Colorado marijuana sales off to strong start in 2017

By Eli McVey Colorado’s marijuana industry – one of the most mature in the nation – continues to thrive, posting record-setting sales figures through the first two months of 2017. Combined sales of medical and recreational marijuana in January and February 2017 totaled over $235 million, up 30% from the same period in 2016.

Read More

Marijuana tech company MJ Freeway nets $3M in financing

A day after winning Pennsylvania’s medical marijuana seed-to-sale tracking contract, MJ Freeway said Friday it has received $3 million in Series B extension financing. The financing – which comes from existing investors Tao Capital Partners, based in San Francisco, and venture capitalist Roger McNamee – brings to $11 million the amount of money Denver-based MJ […]

Read More

Canadian medical marijuana grower Aphria lands CA$100M

Aphria, one of Canada’s largest licensed medical marijuana producers, announced it has secured 100 million Canadian dollars ($74 million) in financing. The financing will be used mostly to expand Aphria’s production capacity, which “is expected to supply more than 75,000 (kilograms) of high-quality cannabis at one of the lowest costs in the industry,” CEO Vic Neufield […]

Read More

Three cannabis companies raise over $7 million

It’s money week in the cannabis industry: Three Colorado-based ancillary marijuana companies announced multimillion-dollar capital raises totaling $7.35 million. BDS Analytics on Monday revealed it had successfully completed a $2.1 million round of fundraising from investors, BizWest reported. The capital influx will be spent on expanding the data analytics firm’s sales and marketing departments. On […]

Read More

Cannabis investment climate warming, but big investors not writing checks

By Omar Sacirbey Investor interest in cannabis businesses is growing since the 2016 election, a development that ultimately could lead to more dollars flowing to cash-squeezed marijuana companies. The growing interest comes after seven states legalized medical or recreational marijuana last November, providing more opportunities for investors.

Read More

Marijuana on the Hill: Bills introduced in Congress in 2017

By John Schroyer

Less than three months into the new Congressional session, 13 bills have been introduced – including eight last Thursday – that would change the federal government’s approach to cannabis.

Here is a look at the various proposals and their potential impact.

Read More

BuzzFeed investor leads $3M funding for marijuana tech firm

A cannabis-focused e-commerce platform has netted $3 million in funding that was led by a venture capital firm that has made early investments in several non-marijuana companies, including the popular news website Buzzfeed. LeafLink, a New York-based wholesale management platform for cannabis businesses, will use the money to expand its B2B platform into newly legal markets, […]

Read More