Seattle-based MainStem, a cannabis e-commerce tech firm, has closed its Series B funding round with a nearly $2.2 million raise led by Merida Capital Parters. MainStem will use the new capital to expand its main platforms.Read More
Cannabis tech firm BDS Analytics is planning a national expansion of its sales tracking software and an increase in personnel thanks to a $3.5 million funding round. The raise capped off the Boulder, Colorado-based firm’s Series B funding effort – led by a $750,000 investment by Canopy Ventures I, also based in Boulder. Other leading […]Read More
Pennsylvania approves eight universities to conduct medical marijuana research, a company spurned for a Louisiana license sues the state, and Ohio awards an additional MMJ permit.
Here’s a closer look at some notable developments in the cannabis industry over the past week.Read More
One of the biggest facilitators of marijuana deliveries in California faces a possible class-action lawsuit that one Bay Area attorney says could threaten the company’s existence. Farrah Williams, of San Diego, filed suit against San Francisco-based Eaze Solutions on May 2, alleging the delivery business violated federal law by spamming her and other customers with unsolicited text-message […]Read More
Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.
Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.Read More
GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $10 million that it will use to purchase more businesses. The Denver company said in a news release it has more than $17 million in cash on its balance sheet and that it plans to “execute on multiple […]Read More
Retail sales of medical and recreational cannabis in the United States are expected to hit $8 billion-$10 billion this year – a nearly 50% increase from 2017 – and rise as high as $22 billion by 2022. That’s according to exclusive projections from the 2018 edition of the Marijuana Business Factbook released Wednesday at the […]Read More
When it launches this month, the Massachusetts Cannabis Business Association aims to focus on issues that marijuana industry stakeholders can unite around, rather than issues that divide them. The trade group, scheduled to launch May 15, was conceived by Boston law firm Smith, Costello and Crawford, according to The Boston Globe. The Massachusetts Cannabis Business Association […]Read More
Marijuana Business Daily on Thursday was anointed one of the nation’s fastest-growing women-owned companies, underscoring the role of females in cannabis and the industry’s growing acceptance within mainstream circles. Marijuana Business Daily President and CEO Cassandra Farrington accepted the prize for the No. 9 spot on the list during the Women Presidents’ Organization’s 11th annual awards […]Read More
MJ Freeway, a major point-of-sale software provider for the cannabis industry, reported that marijuana retailers rang up their highest sales in history on April 20 – no doubt helped by the 4/20 MJ holiday landing on a Friday. Sales among MJ Freeway’s clients nationwide totaled $87 million, a 61% increase from last year. The Denver […]Read More
Scotts Miracle-Gro, which has invested heavily in the cannabis industry, plans to cut jobs and consolidate partly because of how the legal marijuana program has rolled out in California and elsewhere.Read More
Erica Dhawan wants to help cannabis professionals connect in intelligent ways, including focusing on collaboration among employees and building alliances with other businesses. That way, as your business grows you don’t have to rely on your organization alone to scale up, you have partnerships and networks to help you expand. “Those that really think about […]Read More
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