Franwell wins Michigan marijuana tracking deal worth nearly $450K

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Florida-based Franwell, which built Colorado’s cannabis tracking system, has been awarded a state contract from Michigan worth nearly $450,000 to implement a similar inventory tracking program for the state’s medical marijuana program.

The Michigan deal is in keeping with new regulations that will oversee a web of state-licensed MMJ businesses.

The contract, according to Crain’s Detroit Business, is worth $447,625.

Franwell beat out 10 competitors to win the contract, including BioTrackTHC, MJ Freeway, Kind Agrisoft, Superior Technology Solutions Corp., Veritec Solutions, Keystone Validation Group, CS Platform Technologies, Zeni Software and Dauntless Software.

The company will rely on the same basic platform that Colorado uses, called Marijuana Enforcement, Reporting, Tracking and Compliance, or Metrc for short.

Franwell has also won government contracts for cannabis tracking systems in Alaska, Oregon and Maryland, and its sales numbers have been steadily climbing over the past several years, according to Crain’s.

“Franwell disclosed in its proposal to the state that its Metrc division had $4.9 million in gross sales in 2016, up from roughly $3 million in 2015 and $2.6 million in 2014,” Crain’s reported.