Inc. Magazine Calls 2015 ‘The Year VCs Discovered Marijuana’

Legal marijuana startups raised more than $200 million from investors last year, which is more than twice the money raised in 2014, according to a recent Inc. article. Venture capitalists invested more than $215 million in nearly 100 deals over the course of the year, compared to just over 60 deals worth under $100 million in 2014. The largest investment in 2015 was Privateer Holdings’ $75 million round led by Peter Thiel’s Founders Fund.

Marijuana remains illegal under federal laws, but several states have legalized medical and recreational marijuana, including Alaska, Colorado, Oregon, and Washington State. Companies operating in these markets are on track to generate more than $6 billion in revenue this year and are expected to make over $20 billion in sales by 2020, according to a report by New Frontier and the ArcView Group, which are both focused on the industry.

Amongst some of the public companies in the industry is DigiPath Inc. (OTCQB: DIGP), which is focused on the state-mandated testing segment of the cannabis industry. GreenWave Advisors called the cannabis testing industry “one of the most attractive subsets” of the wider market and anticipates the segment to generate close to a billion dollars of revenue by 2020. Testing providers could also realize high gross margins from add-on analytics and consulting services.

The company’s inaugural testing lab recently opened in Las Vegas, which is well positioned to benefit from potential recreational legalization in 2016. As one of only a handful of approved labs in the state, the company has already started to generate tangible revenue.

CFN Media recently spoke with DigiPath CEO Todd Denkin, who outlined the company’s potential within the burgeoning industry.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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