The global cannabis market is expected to nearly triple by 2027 due to changes in cannabis awareness and regulations. But to effectively scale and meet growing demand, cannabis businesses need additional support. Enter cannabis technology companies.
Cannabis technology companies you should know about
Green Thumb Ducky Leaf Link Philo Puffco Spring Big Jane Technologies Stealth Surveillance Enthusiastic Confident Cannabis
Unless they're inventing a gadget or conducting cutting-edge research, cannabis technology companies typically follow a formula of keeping it simple. They will take products, services and disciplines such as workforce management and e-commerce platforms and equip them to meet the needs of cannabis cultivators, producers, manufacturers and consumers.
Cannabis technology companies not only boosted cannabis businesses, they also helped create a new portmanteau. It's called Cannatech, sometimes referred to as Weedtech, and it's the intersection of technology and 420-friendly commerce.
What is Cannatech?
Cannatech, also known as weedtech, refers to the crossover of technology companies entering the cannabis industry. As the digital arm of producers, these companies provide innovative services and solutions to improve products, customer experience, and market-wide compliance with federal and state regulations.
Below is a short list of up-and-coming cannabis technology companies that are brightening up the cannabis industry.
Top Cannabis Technology Company
Green Thumb is a Chicago-based social impact cannabis retailer with several dispensaries and consumer packaged goods brands under its roof. These include Good Green (sells a wide variety of flowers), Rythm (flowers, vapes, concentrates), Dogwalkers (pre-roll joints), Incredibles (chocolate, gummies, hard candies), Vibeau (gummies, mints, vape pens) ), Dr. Solomon's (lotion, balm, drops).
For consumers, Dutchie hosts an online delivery platform that directs shoppers to local and interstate pharmacies. For pharmacies, Dutchie offers e-commerce and POS software for $500 to $1,000 per month with a dashboard of tools to help run daily operations and expand market reach.
LeafLink is a wholesale management business-to-business platform that operates 52 percent of the domestic supply chain supporting cannabis commerce, according to the company's website. Its centralized sales engine serves more than 8,400 retailers and 3,700 brands and distributors. The New York City-based company launched a complete platform pricing model in 2022 that bundles payment tools, logistics solutions, and marketplace access for a monthly fee.
Chicago-based Fyllo's Compliance Cloud is a suite of enterprise-grade software and services designed to bring companies in highly regulated industries, such as cannabis, under its umbrella. The four-year-old company relies on an extensive archive of cannabis and CBD purchase data to provide tools, information, and integrations that help businesses stay compliant with ever-changing legal practices and a high win rate to accelerate growth. We provide marketing solutions.
Puffco challenges market norms with a line of original, award-winning products. Puffco's approach to setting a “more flavorful industry standard” focuses on extract consumption and highly refined cannabis concentrates to create the most potent puffs possible. using process. The company's products, including its best-selling vaporizer, are free of adhesives, fibers, and chemicals and are manufactured exclusively in-house at its Los Angeles headquarters.
Springbig is a marketing technology company that provides customer loyalty programs and marketing automation to cannabis retailers and brands. Springbig uses all the promotional tools it has in-house, including text, email, and customer feedback portals to increase customer retention, increase revenue, build customer loyalty, and run effective campaigns. .
Jane Technologies is a cannabis retail technology company that builds a curated online marketplace for small businesses and champions the little guy. Now available as an iOS app, our fully automated e-commerce platform allows pharmacies of all sizes to customize pre-built websites with analytics dashboards. Collections, a personalization feature, suggests new products to shoppers based on local inventory, verified reviews, activity, and user interests. CEO and founder Socrates Rosenfeld told TechCrunch that he has spent the past five years developing proprietary technology focused on helping pharmacies provide accurate e-commerce information with unified metadata. He said he had spent a lot of time on it, but found it a bit “boring.”
Stealth Monitoring is a security company that provides customized industry solutions for numerous cannabis operations, from small retail dispensaries to farms. Combining video analytics and human intelligence, this remote real-time surveillance system prevents an average of 35,000 crimes and arrests more than 800 people per year. In the company's words, “The need for video surveillance is very high in the marijuana industry. Not only is it required in many states, but it is also important to prevent theft in such a cash-intensive industry. .”
The Boston-based biotech company is applying the decarboxylation process, an herbal activation process that applies a precise amount of heat over a period of time to stimulate the THC content in cannabis, to countertops like It is simplified with a one-touch machine that is easy to use. thermos. Billing itself as the “Easy Bake Oven for Adults,” Ardent's lab-grade decarboxylation device decarboxylates, infuses, and bakes in one portable purple appliance. The company's best-selling product, NOVA, can be used on flowers, kief, concentrates, and stems, to name a few.
Confident Cannabis is a lab testing software platform that includes a real-time database of global legal cannabis statistics. The platform partners with accredited laboratories across the country to provide producers, processors, wholesalers, vendors, retailers, and ultimately consumers with easy-to-read, traceable charts on the app. We provide accurate, lab-tested product information, including crop potency.
Eaze is an online marketplace and software platform that connects customers with vetted and fully licensed pharmacies through on-demand delivery. California-based Eaze is currently limited to two states (California and Michigan), but is considering expanding its footprint in the future. According to its website, the platform has completed more than 8 million cannabis deliveries to date.
Demetrix, a Berkeley-based biotechnology company, applies fermentation methods to research and produce highly pure cannabinoids and their interaction with the human body. According to beauty news outlet Cosmetics Design, Demetrics recently launched a commercial-scale manufacturing operation to bring to market its first product, a cannabinoid named cannabigerol (CBG), which has anti-inflammatory and antibacterial properties. It is said that it has started. Demetrix was the first company to produce this rare bioactive ingredient.
Flowhub is a company that builds retail management software specifically for legal medical and recreational cannabis dispensaries. Highly customizable, open-setup platform provides compliance, point-of-sale, payments, inventory tracking and analytical data to guide better business decisions, as well as an easy-to-use mobile application . After eight years of operation, the Denver-based business currently processes more than $1 billion in cannabis sales annually from 700 retail locations across 18 states.
Dutchie acquired Greenbits, a software company that provides a point-of-sale platform that supports cannabis retailers' daily operations and management needs, from retail, inventory, customer, and regulatory needs. The company's products feature automated state-by-state compliance, loyalty programs, inventory audits, and personalized insights.
Jazz Pharmaceuticals, a global biopharmaceutical company, acquires cannabis-focused biotech company GW Pharmaceuticals in 2021 and acquires Epidiolex, Inc., the first and only FDA-approved prescription cannabidiol. and entered the cannatech industry. Infused with highly purified CBD, Epidiolex is an oral solution for treating childhood epilepsy. In 2022, the biotech company invested $100 million to build a 60,000 square foot facility to support plant-based innovation.
Headquartered in Washington, DC, New Frontier Data is an independent, technology-backed analytics company providing real-time data solutions to the cannabis industry. The company uses deep learning, neural net frameworks, and artificial intelligence together with its proprietary big data infrastructure to compile comprehensive insights.
PathogenDx is a biotechnology company that uses microarray technology to develop rapid detection solutions that can identify bacterial, fungal, and viral threats in cannabis. The company's newest product, Octa, is a 96-well automated preparation station that can detect more than 50 pathogens, including E. coli, Listeria monocytogenes, botrytis, and mildew, within six hours.
Boasting a team with over 200 years of experience in food, beverage, and product development, SōRSE Technology develops water-soluble emulsions that cannabis companies use to infuse functional cannabinoids into products such as food, beverages, and topical products. did. The Seattle startup told GeekWire that its precise dosing recipe allows for customization of metrics, allowing manufacturers to monitor the potential users may experience when consuming products that integrate CBD, THC, or terpenes. He said the scent, strength and duration of the effect can be set.
Treez is an enterprise cloud commerce platform that provides software solutions that streamline supply chain operations. The company's products include point-of-sale systems, pharmacy inventory management, and cashless payment processing, all on an open API platform, further expanding functionality by enabling compatibility with market-leading integrations. I am. Treez works with more than 8,400 cannabis brands and 275 cannabis partners, accounting for 15 percent of the state's total dispensary market share.
Valens Company is a biotechnology company aiming to diversify the cannabis market with proprietary extraction methods including CO2, ethanol, hydrocarbons, solventless, and terpene. Valens also provides analytical testing, formulation, and white label product development services in partnership with licensed producers.
Würk is an all-in-one workforce management software designed with the cannabis industry in mind. The company has built intuitive applications suitable for highly regulated markets that streamline human resources, time management, payroll, and tax compliance. The company's proprietary solutions include its underwriting program, Compliant Payment Cloud, as well as its integrated analytics and integration software (technically coined Intralytics Cloud).
