On the heels of increasing legalization, venture capitalists are clamoring to invest some green into the budding marijuana market.
The marijuana market in the US is estimated to be worth over $40 billion today, and could grow into a $100 billion market by 2029, according to some analysts. The numbers have strartups, venture capitalists and cash-strapped states salivating.
State and local governments tantalized by tax revenue aren’t the only ones interested in the economic potential of legalized marijuana. There are over a dozen weed-centric startups that have already raised over $1 million each.
But what exactly do these self-proclaimed “ganjapreneurs” have to offer you? Below are four of the newest and most innovative weed startups and the services they offer, because, hey, if it’s a good enough venture for Snoop Dogg, it’s good enough for us.
1. Social media: MassRoots
Like any proper sub-culture, marijuana enthusiasts now have their very own social network tailored to suit their interests: MassRoots.
On this social app users can semi-anonymously (under the veil of a username) browse what’s happening in their local and global cannabis communities as well as share their own pictures and thoughts.
Before you head to the app store for a free download, however, you might want to make sure you’re in one of the designated 23 states where both medical marijuana and MassRoots are legal.
2. Delivery: Canary
If you’re a smoker from a metro area like New York City, where weed delivery has long been a given, the concept of home-delivery might not seem quite as novel. Rest assured, however, you’ve likely never seen anything quite like Canary before.
Using a sleek and streamlined interface Canary allows its users to browse, select, and order the weed of their choice from a dispensary, straight to their doorstep.
In its infancy, the app is currently only delivering to Seattle where its founders (two college students from University of Washington) are vying regulators for their right to provide their service.
Below is a video demonstration of how Canary works:
3. Branding: Aquarius Cannabis
Like it or not, legalized marijuana is here, and like any proper American commodity, branding is all but inevitable–just ask Bob Marley’s family.
Startup Aquarius Cannabis plans on being some of the first to brand and package different strains of marijuana under the crusade of ensuring quality and consistency.
With over $1.1 million in funding, Aquarius Cannabis is on a paved path to do just that.
4. Analytics: Potbotics
You’d be hard-pressed to find an area of our lives which technology doesn’t promise to disrupt, and if Potbotics has anything to do with it, medical marijuana won’t be exempt from that rule of thumb (spoiler alert: there are robots involved).
Using a process which combines DNA analysis meant to optimize growers’ yields, an EEG helmet to scan a patient’s’ brain function in order to help prescribe the right strain, and an in-house robot to help customers sift through the process of choosing a strain that’s right from them, Potbotics hopes to revolutionize the prescription process behind medical marijuana.
So far Potbotics has received $1.5 million in funding, making them the first Biotech startup to tackle the issue.