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 Tuesday, Wurk – a tech company offering a platform that helps cannabis companies comply with local and federal rules as well as manage human resources activities – announced it had raised $2 million to hire on more executives and fund expansion into new markets, Forbes reported.

And on Wednesday, compliance platform firm Flowhub said it had finished a $3.25 million Series A round of equity financing, according to a news release.

The raises are a solid indication investors are still bullish on the marijuana industry, despite all three companies being ancillary instead of plant-touching.

But it’s also noteworthy that capital raises haven’t dried up this year, despite the election of Donald Trump as president and his subsequent appointment of an anti-marijuana attorney general, Jeff Sessions.

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