Insider asked 14 of the largest cannabis investment firms about the startups they're eyeing in 2022. Their top contenders include Dutchee, Cann, and Green Flower. This is Insider's second annual list of top cannabis startups.
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Last year was a year of mega-rounds for cannabis startups.
Bend, Oregon-based Dutchie Co., a company that helps cannabis dispensaries connect with consumers in legal states, is leading the way. Last year, the company raised $550 million in two consecutive rounds from investors including Tiger Global and Thrive Capital, bringing its valuation to $3.75 billion, among other monster funding rounds. Reached.
Investors poured a total of $2.7 billion into cannabis startups across 272 deals, up from $1.5 billion in 2020, according to data provider PitchBook.
And while some big-name funds made their first cannabis investments in 2021, the industry remains dominated by cannabis-only companies given its federal illegality in the United States.
These companies, such as Merida Capital Holdings, Poseidon Asset Management, and Navy Capital, are targeting family offices and wealthy investors to take on risks that large asset managers and pension fund-backed institutional investors cannot. There is a tendency to raise funds from the layer.
To compile this list, Insider asked representatives from each of the companies that made this year's list of top investors in the cannabis industry to recommend two startups. One company is investing and the other is not. Investors provided us with a total of 20 names. We contacted each company from that list and received responses from 16 companies.
Broadly speaking, investors are focused not just on cannabis technology, but also on the emerging medical sector in Germany and the European Union, and potentially the recreational sector if some lawmakers get their way.
From cannabis-infused beverage company Cann to cannabis production company BastCore to cannabis-focused communications company Mattio, here are some startups that are expected to have a big year in 2022, by various names.
