Cannabis startup Dutchie to buy e-commerce software developers Greenbits, LeafLogix

Ross Lipson, left, and Zach Lipson, Dutchie co-founders.

Source: Dutchie

Cannabis tech platform Dutchie introduced Tuesday its acquisitions of software firms Greenbits and LeafLogix in an effort to streamline e-commerce instruments for its dispensary companions.

Greenbits and LeafLogix create enterprise useful resource planning and point-of-sale software for hashish firms. Dutchie declined to disclose the monetary phrases.

Founded in Oregon by brothers Ross and Zach Lipson in 2017, Dutchie works with 2,116 dispensaries throughout 36 markets within the United States and Canada to facilitate on-line ordering of hashish, together with choose up and supply.

The offers come as extra states like Virginia look to legalize hashish, and the tempo of consolidation within the sector accelerates. Since November, six states have handed legalization measures.

Also Tuesday, Dutchie stated it has obtained $200 million from traders in a Series C funding spherical, placing its valuation at $1.7 billion.

The newest funding spherical was led by Tiger Global, with new traders Dragoneer and DFJ Growth. Existing traders, Casa Verde Capital, Thrive Capital, Gron Ventures and former Starbucks CEO and founder Howard Schultz, additionally participated.

Dutchie CEO Ross Lipson advised CNBC he stays optimistic that this transfer will additional the corporate’s presence within the fast-growing trade.

Commenting on enterprise tendencies, Lipson stated in an interview that whereas nearly all of prospects are buying hashish flower merchandise, the corporate is seeing better demand within the trade for a lot of different types of the plant.

“You’re seeing many more categories like vaporizers, topicals, edibles and tinctures continue to increase in demand as well. I think as the technology and education continues, the product offering will expand for sure,” Lipson stated.

The firm is scheduled to seem on CNBC’s Closing Bell Tuesday afternoon.

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Written by Business Boy


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