Cannabis Startups to Watch in 2017
April 6th, 2017
Policy, Top News
The legal cannabis business in the United States is booming. Recent numbers released by New Frontier Data and published by The Cannabist predict the market to be worth a staggering $24 billion by the year 2025. With 29 states having already legalized marijuana for medical and/or adult-use purposes, and more states considering the topic every year, it’s no surprise that investors want to get in while the getting’s good.
The number of cannabis start-ups has been climbing steadily over the last few years and shows no sign of slowing down. Read on for a list of the industry innovators you’ll want to keep an eye on in 2017.
For the budding home-grower who wants a small-scale yet precisely automated operation, the Leaf system is a must-have. The unit looks similar to a mini-fridge but packs quite the punch – inside is a complete climate system with a water and control system for lighting, acidity, temperature, humidity, and fertilization. When the growing process is complete, Leaf will also dry your flowers to prepare for consumption. The Israeli start-up raised $2 million in seed funding in late 2016; units are currently available for pre-order.
Syqe Medical has raised $33 million from investors to develop, produce and sell their selective-dose, pharmaceutical grade, medical plant inhalers. Their original inhaler is for consumer-use, but the Syqe Inhaler Pro is designed for caregivers and is currently being used in Israeli hospitals. Pharmaceutical giant Teva Pharmaceuticals recently signed a distribution agreement with Syqe, signaling big things to come.
The cannabis industry seems like a perfect fit for those who want to participate in the sharing economy and entrepreneurs are taking note. Enter Eaze – an Uber-esque service that connects medical marijuana patients with delivery drivers in their area. The startup, run by superstar CEO Jim Patterson, (former CEO of Zinc, and former CPO of Yammer) has taken in $24.5 million in funding so far.
There are a lot of business cropping up the in the cannabis packing game, but Sana is well on its way to becoming a major player. Their rectangular, stackable cannabis containers made from biodegradable hemp-based plastic, results in a reduction of their carbon footprint by eliminating traditional petroleum-based plastic from the equation. They were recently inducted into the venture fund firm Canopy 16-week startup accelerator program.
New Age Farm
Another company looking to help develop cannabis startups, focusing on the agriculture space, is New Age Farm. The firm helps growers enter the marijuana industry by offering them solutions to scale costs and save money on equipment purchases.” The company has three agri-campuses in Langley, British Columbia, Oroville, Washington, and Sumas, Washington. Tenant-growers utilize these properties to access fully-built, commercial-scale operation with no up-front investment required.
Green Flower Media
Green Flower Media aspires to be the Lynda.com of legal cannabis. The startup is a health-focused knowledge base and media platform, offering video courses and corresponding education blogs. While a subscription is required to access most content, the price is worth its weight in gold in terms of the sheer number of classes on a wide variety of topics from cultivation to cannabis and sex. Green Flower’s platform is currently growing at a rate of 22% per month.
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