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.