3 Startups cashing in on Marijuana

More and more startups are taking advantage of new legislation in favor of recreational marijuana use. Do you know about these 3 startups cashing in on marjiuana?

Aman Kapoor, Hazel Technologies
February 18, 2016 2:14 pm CST

With 23 states and Washington D.C having legalized medical marijuana,
and Bernie Sanders’ support for ending the federal prohibition, it’s hard to
deny the growing change of public perception on the Schedule I drug.

It’s also hard to deny the potential economic growth.

Recreational - Maroon Medical - Grey (Millions of Dollars)

In August of 2015, the marijuana sales in Colorado increased to $100.6 million, while the national average in sales was over $4 billion.

With this high demand of consumer market, several startups have emerged to
profit from this new industry.

1. Leafly

Leafly offers a wide variety of software to aid legal Cannabis users.

Leafly was founded in 2010 and has become the leader in cannabis information resource. Using their interactive website, IOS and Android apps, a consumer can find certain strains through the Explore tool.

This crowdsourced data also has reviews of strains, products and dispensary locations.

Headquartered in Seattle, Leafly has contributed to the increase in marijuana sales in the United States by adding convenience for consumers to explore new options.

2. Eaze

The goal of Eaze is to enable lightening-fast marijuana evaluations

Eaze allows registered users to order marijuana through their app and have it delivered.

Since launching in November of 2014, Eaze has raised a total of $12.5 million through investors including rapper Snoop Dogg.

Don’t have a cannabis card? EazeMD uses legally certified third-party doctors to issue cannabis cards electronically.

This video phone conference service is only $25 and allows users to quickly purchase marijuana.

3. Flowhub

Flowhub is SAAS for Marijuana growers and dispensaries.

Flowhub is a specialized marijuana SAAS,  primarily an inventory management system for dispensaries. The software system allows growers to organize their operations, optimize profit margins and increase accuracy. 

Flowhub was founded in late 2014 by current CEO Kyle Sherman.

As this multi-billion dollar industry increases due to new medical marijuana laws, the future for investors, startups, and consumers looks more promising.

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