US-based cannabis industry accelerator and venture fund Canopy has announced its latest intake of eight start-ups looking to service the marijuana sector. Each member of the cohort will participate in a 16-week accelerator programme and score a $30,000 investment from Canopy, with the chance of picking up an additional $50,000 when the initiative concludes
Canopy says its model prioritises connecting companies with experienced mentors and introducing founders to a broad cannabis investor network. The programme has been designed to help the start-ups raise outside capital, while providing access to venture firms, key figures within the local entrepreneurial community, plus exposure to early adopters and potential clients.
Canopy says it will invest a total of $1 million in cannabis start-ups in 2017.
Among the latest intake are:
Virtugro, which is developing automated grow-tech solutions for medium to large-scale cultivators
DeepGreen, whose optical recognition technology identifies plant characteristics using AI and machine-vision technology.
Cannabis Quality Group, a cloud-based quality management system designed to provide licensed businesses with transparency in their supply chains.