Dutchie

Dutchie was founded in 2017 with the aim of making cannabis as accessible as possible through the use of advanced technologies. The main competitor is the startup Weedmaps.

Dutchie's financial performance

In total, the company received $253 million in financing in 4 rounds of investments. The last one was in March 2021, when she raised $200 million. Among the investors is Casa Verde Capital, owned by popular rapper Snoop Dogg.

Dutchie recently announced the acquisition of software startups Greenbits and LeafLogix to strengthen its position in the market.

Potential market and prospects

According to research by New Frontier Data, the cannabis market is actively growing and may reach a volume of $30 billion by 2025. An additional growth factor is the global pandemic, which has led to an increase in demand for cannabinoid products.

The situation with the legal status of cannabis is changing — in November 2020, 5 states in the United States legalized the medical and recreational use of cannabis. Therefore, there are more and more opportunities for business development.