A venture fund and business accelerator named Canopy announced Thursday that it has added 10 startups to its 16-week accelerator program. Each of the 10 receives $30,000 in seed funding, with the possibility of receiving an additional $50,000 later.
Canopy has teamed up with the Arcview Group to fund companies developing ancillary products and services for the legal cannabis industry. Arcview’s investor network includes more than 600 accredited investors who have put more than $91 million into 135 companies. The Canopy model prioritizes connecting companies with experienced mentors and introducing founders to a wide cannabis investor network through its partner, the Arcview Group.
The 10 companies accepted into the 2017 spring class include startups involved in geo-mapping to those helping consumers find the best value on cannabis products.
Here’s a list of the 10 startups along with a short description of their businesses:
Snapp Digital provides ad control for digital networks. Snapp’s platform allows advertisers to buy ad space and manage content from a simple dashboard, solving the problem of buying and managing ad space in a simplified and cost-effective platform.
Solutions Vending believes smart vending machines aren’t smart enough. SVI utilizes facial recognition software to convert standard vending machines into an intelligent data collection kiosk, collecting valuable purchasing information.
Who Is Happy connects cannabis consumers around the globe with an international geo-location-based social network.
Cannabis Big Data integrates with data sources such as POS and accounting to publish critical business management reports that identify areas for improved efficiencies and revenue.
Sana Packaging believes current packaging solutions are wasteful, don’t store efficiently, and don’t allow space for branding and compliance labels. Sana offers rectangular, stackable cannabis containers made from biodegradable hemp-based plastic, resulting in a reduction of their carbon footprint by eliminating traditional petroleum-based plastic from the equation.
Bloom Automation provides robotics for the cannabis industry. A solution for the high cost of manual labor, Bloom creates high-tech robotics that allow for tasks within a cultivation setting to be automated.
CannaZoning is a platform that provides visualization of state and local marijuana zoning laws, helping businesses understand the lay of the land, filter the noise, and avoid costly pitfalls associated with cannabis business zoning.
Firesale uses geo-mapping technology to provide real-time information on cannabis deals in any location. Its user-friendly search functionality allows consumers to find flower based on potency, strain or price.
Estrohaze is a cannabis-focused media outlet designed to break the stigma surrounding women and minorities. The platform includes resources, career opportunities, and lifestyle content that focuses on women of color benefiting from the cannabis plant.
Croptimize provides technology to drive efficiencies for growers, encouraging energy savings and conservation. They optimize demand profiles and reduce operating expenses through machine learning to leverage rate structure management and utility incentives.