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.
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.