In the US, many states have now legalized marijuana for either medical or recreational purposes. Because of these legal changes, a huge boom in the cannabis industry has led to some amazing startups with creative and innovative ideas.
The cannabis industry is huge in terms of money and is expected to continue to grow. According to Forbes, Colorado already passed the $1 billion dollar mark for annual marijuana sales and, in California, the city of Los Angeles alone is predicted to generate $1 billion.
These top ten cannabis startups caught our eye as companies to watch in the marijuana industry in 2017.
Tokken is blockchain banking for the cannabis industry and beyond.
Tokken arose out of the cannabis industry for the cannabis industry. While its technology can be used widely by consumers and businesses alike, it has special functionality that make it especially useful in the marijuana industry.
For one, it adds a layer of privacy and helps prevent money laundering. As such, they are a sustainable banking solution. Purchases are made via the Tokken system using an distributed, indelible ledger (blockchain) to record payments. Tokken can be used by businesses to pay bills, but they can also transfer their balances into USD.
PrintABowl is custom 3D printing for smoking accessories. Practically any shape and texture you can imagine, PrintABowl can print it, cast it in porcelain, hand-glaze it, and ship it to your door.
This opens a whole realm of innovative, user-driven designs and highly artful pieces for cannabis consumption.
Entrepreneur named them the “#1 Cannabis Startup to Watch.”
Grownetics is for high-tech cannabis cultivators. They blend hardware and software solutions to let users both view and control every aspect of their cultivation facilities. They offer micro-climate control harnessing 3D crop sensing to track data about every individual plant. They offer automation, real-time views into any part of your facility and custom alerts straight to your phone. This is marijuana growing for the future.
Adistry is the cannabis advertising platform. They help businesses and advertisers connect within their niche offering publishers such as cannabis blogs, sellers, news outlets, and more. No matter which aspect of the cannabis industry you’re involved in, Adistry has the right cannabis advertising contacts for your niche. They keep up to date with laws surrounding marijuana advertising, making the jobs of cannabis marketers much, much easier.
Headset offers business intelligence for the cannabis industry. They claim to help you get ahead and know what’s hot before it’s hot in this hyper-competitive industry. The offer data analytics to cannabis professionals to run streamlined businesses, stay ahead of the competition, and keep an eye on opportunities on PC or mobile.
Weave is a METRC-compliant point of sale and resource planning system for the cannabis industry. Using data science, they provide analytics to their customers in this fast-paced niche and help them increase sales, track inventory, and even connect with third-party apps. Weave doesn’t just track, it suggests so your business can get ahead.
They offer plug ‘n’ play software, mobile support, and more. This is truly smart software for the cannabis industry.
Trees claims to be the Amazon of cannabis. They deliver craft cannabis curated into wooden boxes and sent right to your door. They have a menu of fine strains, but also offer a “personal cannabis concierge” to aid in the decision-making process and make suggestions. They currently deliver in the San Francisco area daily.
MassRoots is a social network for cannabis users with over 900,000 users. Here, users can communicate freely about their passions, find smoking buddies, and develop within the community.
Especially as marijuana usage becomes more commonly accepted and legal throughout the country, I expect those numbers will grow substantially. It is one of the largest and fastest growing platforms even today.
Plus, they’re still currently accepting investors.
If you’ve been keeping up with the cannabis industry, you already know that many people are requesting strains containing two major components, THC and CBD.
Hyasynth Bio is creating cannabinoids (CBD) using engineered yeast. They have an innovative, scalable platform for creation of these cannabinoids which research points to having a wide array of health benefits.
CannaData is bridging cannabis and big data so dispensaries and users can keep up with all of the latest scientific information. Their platform provides access to databases of “chemical informatics, chemical analytics, genomics, cellular mechanisms, physiologic effects” and more. They have a free app for Android and iOS.