2017 was a crazy year for cannabis. With more states embracing legalization, decriminalization, and medical cannabis, the industry has seen numerous shifts across the board. This has led to many entrepreneurs looking to cash in on “the green rush,” and an impressive number of firms have emerged.
From entertainment to consumer data, we’re starting to see the financial growth of the cannabis industry trickle down into innovations and subsectors. 2018 is poised to be a big year for cannabis, which is why I’m giving you a few intriguing companies to be on the lookout for. Check them out below:
While almost all of us have been introduced to some sort of cannabis content in the past couple of years, there hasn’t yet been a channel truly dedicated to cannabis. This industry is growing exponentially, but cannabis television is still a relatively untapped market. That’s what makes 420TV such an intriguing prospect.
420TV aims to deliver entertainment, news, finance, and even health advice based on the cannabis industry. Because of consumer interest in these categories, 420TV is entering at the perfect time. Expect them to make a big splash within the next year.
Their initial product, Leafly, completely changed the game for the cannabis industry, and the co-founders have now moved on to found Headset, which raised $2.5 million last year. Headset’s goal is to provide real-time customer data and intelligence, which is incredibly useful for the cash-only business.
Although they’re somewhat early to market, Headset is poised to make a significant impact on the industry as it expands. The competition will get fierce within the next couple of years, so you can expect shops to want more valuable insights on how they can get an edge.
If Eaze is considered the Uber of the industry, Hemp Temps is the Fancy Hands. Catering to every aspect of the growing and selling process, they are seizing on a significantly underdeveloped opportunity. A growers and shops keep expanding their operations, there’s always going to be the need for more help, and Hemp Temps is one of the first companies to tap into this space.
One of the biggest struggles of the cannabis industry has been payments. Quite simply, as a mostly cash business, payroll, security, and logistics all need to be accounted for, creating a headache for shop owners. However, that’s a problem companies like Tokken are out to help correct.
As noted by CNBC, Tokken is set to become a widely used service in the cannabis industry, as it allows merchants to finally accept cards. It’s able to accomplish this by combining smart data (KYC) and then turning the verified transaction into a token, which can be distributed to a bank account. Although it’s still uncertain whether the federal government will allow these tokens to keep being used in the cannabis market, for the time being it looks as though companies like Tokken could make a huge difference.
Considering that both the medical and legal industries have seen a boom in baked and craft goods, it should be no surprise that some artisans have taken that to the next level. And when it comes to cannabis goodies that really go all in, look no further than Serra. Their inventory ranges from cannabis-infused kombucha to chocolates and candies. We could see many more similar craft startups springing up in 2018.
The final offering in our list is Seedo, a home-growing hydroponics kit. Paired with an app that analyzes and tracks the progress of your plant, Seedo makes cultivating your own cannabis a cinch. Although they aren’t just a cannabis company, because they make it easy to grow plants (especially in an urban area), expect them to enter more conversations in the cannabis industry next year.
Founder Dinis Guarda
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