The legal cannabis industry in the USA continues to thrive. BDS Analytics, the leading provider of market trends reports, and analyses reported this sector generated $9 billion of sales in 2017 alone. The analytics company expects national pot sales at $11 billion by the end of 2018 and $21 within three years. Companies supporting cannabis contribute to this boom.
Various enterprises have taken advantage of marijuana’s surge. Their areas of specialization include logistics, pharmaceuticals, infrastructure, security, and IT services.
Here are 10 companies supporting cannabis that cashed in on this situation.
Blue Line Protection Group offers a variety of services to marijuana businesses in Colorado. These consist of armed protection, transportation, security training, and compliance. The company’s earnings grew almost 29% during Q1 of this year compared to the same period of 2017.
CSA Holdings also provides a full range of security systems and services which includes surveillance and intrusion alarm devices. It maintains around 130 clients operating 500 facilities in 13 states where medical or recreational marijuana is legal.
The marijuana investment firm Privateer Holdings claims to own the biggest funding in the weed industry. It operates several cannabis-related firms. Canadian-based Tilray grows medical pot and performs cannabis research as well. Leafly is a portal that searches dispensaries. Tilray’s newest venture is Marley Natural which sells varieties of recreational marijuana. This company concluded a $75 million funding round which included Peter Thiel’s (PayPal cofounder) Founders Fund.
GW Pharmaceuticals from the United Kingdom develops drugs from THC cannabis compound and cannabidiol (CBD). It is in the process of testing CBD-based Epidiolex which can possibly treat serious epilepsy in grownups and young adults. The pharma firm’s stocks have gone up almost 68% this year giving GW a market value or roughly $2.2 billion.
Eaze is a medical weed delivery app dubbed as the “Uber for Marijuana.” The delivery service can bring pot to the doorsteps of clients living in states where medical cannabis has been legalized. This company recently announced a Series A funding worth $10 million from a few venture capital corporations.
On the other hand, MassRoots refers to the marijuana-focused social networking application with over 270,000 users to date. This company is traded as penny stock after earning over $1.3 million in funding. Two investment rounds gave MassRoots an overall value of $25 million.
MedMen in Nevada, USA operates pot growing facilities that use modern agronomic technology combined with sustainable techniques. The company’s manufacturing hubs’ standards are among the highest in the pharma and biotech industries. It manages licensed dispensaries as well as growing facilities in this state. MedMen will use a $3.75 million funding it raised to diversify further in the cannabis business.
Florida-based AltMed launched the first of its 25 dispensaries for medical marijuana patients which will serve the Tampa Bay area. It showcased the MUV product line which includes vaporizer pens, topical gels, and creams, does inhalers, and oral spray tinctures.
Anthea boasts of a broad retail management system designed for online, offline, and back-office weed dispensary operations. This company operates in New Hampshire and Colorado. Anthea supplies tools and strategies to assist entrepreneurs in making crucial business decisions.
Future Farm Technologies through its subsidiary, California-based FFM Consulting Services partnered with a non-profit to cultivate high-quality marijuana in Riverside County. The growing operation will execute the utilization of Future Farm’s vertical farming platform and LED growing lights.
There are many other Companies supporting cannabis in the USA. These businesses are just waiting for the eventual legalization of medical and recreational cannabis at the federal level.
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