Tag Archives: Cannabis industry

Green is the new gold

According to The ArcView Group, a research company based in Oakland, California, legal cannabis is the fastest growing industry in the United States, with the market growing from $1.5 billion in 2013 to up to $2.7 billion in 2014. Research also indicated a positive 32% market growth for 2015 and predicted a market value of $11 billion by 2019. Compared with other fast-growing industries like construction, computer systems and transportation, the legal cannabis industry has hit the number one spot. And as the industry develops quickly in the US, many tech startups and investors are sprouting like weeds to cash in on the potential rewards. Some of the major deals this year include: Privateer, a holding company designed to create, incubate, and acquire companies in the cannabis industry raising $75 million from Peter Thiel; MassRoots, an app for or people who consume cannabinoids scoring a total of $1.1 million; and Eaze, a delivery service for weed users receiving $1.5 million from Fresh VC. This week, Leaflink, a wholesale management platform for the cannabis industry has closed a $750 seed round from a group of NY angel investors. With so much growing interest in the cannabis industry, we predict that more tech startups will crop up and investors will continue to pour money in this contentious yet lucrative space.