CanopyBoulder™ Invests $180,000 In Cannabis Startups, Raises over $2 Million for 2018 Fund

Marijuana business accelerator and venture fund launches ninth cohort of ancillary cannabis companies

News provided by

Feb 14, 2018, 09:00 ET

BOULDER, Colo., Feb. 14, 2018 /PRNewswire/ -- CanopyBoulder, Canopy's seed-stage investment fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry, is pleased to announce the launch of the Spring 2018 class. Six startups are enrolled in Canopy's 16-week accelerator program. These businesses include a brand and influencer marketplace, a connector of cannabis industry software apps, and a blockchain technology addressing "looping" at dispensaries, among others.

In addition to the launch of its ninth cohort, Canopy oversubscribed its $2 million 2018 accelerator fund. This capital will be used to provide seed capital and follow-on funding to the companies that join the CanopyBoulder accelerator.

The CanopyBoulder program is designed to accelerate business development, refine strategy, and prepare companies to raise capital. Over 200 mentors, cannabis-focused venture firms, and key figures in the cannabis industry support the teams throughout the program. After weeks of pitch practice, business model refinement and miles logged meeting cannabis businesses, the cohort "graduates" and travels to present their businesses to an audience of investors, cannabis business professionals, media, and local community.

The six companies included in the spring 2018 cohort include:

Realm 72 - Founded by Christine Penny and Seth Shimkonis
Andia - Founded by Angel Diaz and Alberto Garcia
Catalyst Business Partners, LLC - Founded by Kirsten Knutson
Best in Grow - Founded by Andrew Duffy and Jacob Levin
KNXIT - Founded by Tom Quigley and Kevin Dugan
TreatmentX - Founded by Kevin Staunton and Susan Trapp

"CanopyBoulder is funding and nurturing the infrastructure businesses that the legal cannabis industry needs to continue on a high growth trajectory," said Patrick Rea, co-founder and Managing Director of CanopyBoulder. "As always, we will continue to support our founders with not only financial assistance, but the invaluable resources of a thriving startup community. The cannabis industry won't stop growing and we won't stop pushing our startups to innovate and exceed expectations."

On Thursday, February 15th at 6pm MT, CanopyBoulder will host a launch party for its Spring 2018 class. The event will be held at CanopyBoulder's headquarters in Boulder and will include networking with investors, mentors, and entrepreneurs from the CanopyBoulder ecosystem and other industry professionals. Beer, wine and apps will be provided, with all attendee donations going to Marijuana Policy Project. Details and tickets can be found here.

About CanopyBoulder

Canopy's accelerator arm, CanopyBoulder, is a business accelerator and seed-stage investment fund located in Boulder, Colorado. Since 2015, it that has launched 63 businesses and made nearly 80 investments. The firm looks for startups with great teams working on hard problems in growing industries. For more information, please visit www.canopyboulder.com.

About CanopyVentures

Canopy's venture arm, CanopyVentures, is an investment fund supporting growth-stage companies that operate in the ancillary cannabis industry. For more information, please visit www.canopy.vc.

About The Arcview Group

Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 600 accredited investors who have put more than $158 million behind over 170 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in CanopyBoulder, the first seed-stage mentor-driven business accelerator in the cannabis industry. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information, please visit www.arcviewgroup.com.

SOURCE Canopy