The company said a portion of the funds will be invested in expanding the platform's integration capabilities.
Denver-based marijuana technology company Growlink has received funding from Casa Verde Capital, a California-based investment firm co-founded by Snoop Dogg, to incorporate artificial intelligence into its suite of services for cannabis farmers. announced $2 million in funding.
The company said in a press release that this is the first outside capital needed by 10-year-old Growlink. The company operates with a customer base of 2,200 cannabis producers across 35 countries, including large operators across multiple states in the United States. Growlink specializes in climate control systems and cultivation software used by cannabis companies to optimize crop yields.
Growlink CEO Ted Tanner said the capital injection will “help accelerate our growth and expand our capabilities.”
The company also plans to invest some of the funds in strengthening its platform integration with other third-party systems. Growlink's climate control system is already integrated with Agrowtek, Trollmaster, Pulse Grow and Aranet wireless sensors, according to the release.
This means that “any hardware can connect to the Growlink cloud,” giving users access to the company's “control algorithms, variety blueprints, and AI crop steering programs,” the company said.
Karan Wadhera, CEO of Casa Verde, said Growlink has proven its value over the past 10 years and that the business “drives immediate ROI for underserved cultivators. It is a fundamental element of a technology stack that prioritizes quality and efficiency.”
The capital raise comes at a time when investment capital is scarce for marijuana companies. Viridian Capital Advisors reported a nearly 40% drop in funding last month compared to the same month last year, but there are some signs that investors are cautiously returning to the cannabis sector.
