CanopyBoulder Invests $575,000 in Follow-On Funding for Innovative Cannabis Startups

BOULDER, Colo. – July 10, 2018 – CanopyBoulder, a seed-stage investment fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry, is pleased to announce follow-on investments totaling $575,000 into a number of leading cannabis companies. The businesses include packaging solutions, artificial intelligence, product sampling and review solutions, and blockchain technology, among others.

These startups initially received $30,000 in seed funding through CanopyBoulder’s business accelerator, which is a 16-week program designed to advance business development, refine strategy, and prepare companies to raise capital. More than 200 mentors, cannabis-focused venture firms, and key figures in the industry support the teams throughout the program.

The companies receiving follow-on investments include, but are not limited to: 

• Andia is developing a backend security protocol (POI) that allows a blockchain layer for storage, access control, and integrity of biometrics and other highly sensitive user information.
• BDTNDR is a learning management system that offers information on various cannabis brands for budtenders, allowing for better brand management and education for consumers while benefitting dispensaries’ and brand’s bottom lines. 
• Best in Grow provides product sampling and review solutions for brands, dispensaries, and budtenders, while generating expert review content that changes the way consumers engage with cannabis industry products.
• deepgreen develops artificial intelligence and computer vision technology for agricultural manufacturers, offering plug-and-play vision capabilities that allow OEMs to bring health diagnosis, yield, hydration analysis, and other use cases to farmers.
• GreenScreens is a digital screen solution for dispensaries across the country. The company employs digital menu boards to offer education and advertising directly to consumers at the point of sale
• Miele & Co. Events builds C-level retreats and hosted buyer summits focused on the business development executed between retailers and brands – an underserved portion of the cannabis industry value chain.
• Sana Packaging designs and develops hemp plastic packaging solutions for the cannabis industry. Its hemp plastic is 100% plant-based and chemical-free, with all products certified ASTM Child-Resistant.
• 420Klean is the central distributor of industry specific cleaning products, supplies and services to cultivators, extractors and dispensaries in the cannabis and hemp industries.

“These follow-on investments demonstrate CanopyBoulder’s commitment to sustaining long-term relationships within our startup community and is a testament to our confidence in the viability of these innovative companies,” said Patrick Rea, co-founder and Managing Director of CanopyBoulder. “We look forward to contributing to the continued growth of the companies by supporting their founders as they move the cannabis industry forward.”

About CanopyBoulder

Canopy's accelerator arm, CanopyBoulder, is a business accelerator and seed-stage investment fund for ancillary cannabis businesses located in Boulder, Colorado. Since 2015, it that has launched more than 75 businesses and made 100+ investments. The firm looks for startups with great teams working on hard problems in the cannabis industry. For more information, please visit www.canopyboulder.com.

About CanopyVentures

Canopy's venture arm, CanopyVentures, is an investment fund supporting growth-stage companies that operate in the ancillary cannabis industry. For more information, please visit www.canopy.vc.