Snoop Dogg 's Venture Captial Casa Verde Leads $1 Million Investment In Cannalysis
While state government to certain extent still consider cannabis an illegal concept but new report from Brightfield Group market research firm suggest that cannabis industry could reach $7.7 billion to 30.4 billion by 2021.
With this bold statement and market research, either the recreational or medical aspects still largely remains available to consumer.
Snoop Dogg venture back capital firm aim to focuse on early stage investment in the cannabis industry especially in California where Cannabis is legal. the aim of the venture capital is to provide early stage funding for startup trying to figure out this market.
Casa Verde which counts Snoop Dogg among its partners, led a $1 million round into Cannalysis, a “tech-forward,” cannabis lab that tests medical and recreational cannabis products for potency, chemical residue, industrial solvents, pesticides, and unwanted microbes like E. coli or yeast.
Cannalysis also offers dispensaries an online portal and directly integrates with WeedMaps, an online dispensary locator.
“We are at an inflection point for this industry and we are ready to expand,” Cannalysis CEO Brian Lannon said in a statement to Business Insider. “Having a marquee investor and strategic partner like Casa Verde, will be instrumental in helping us achieve our growth objectives.”
Similar to Casa Verde initiative is Privateer Holding which also specifically focused on early stage investment in startups related to the Marijuana business. ( Tirlay, Marley Natural and Leafly).