Cannabis has always been big in Oregon. Now, cannabis tech is showing it has similar potential. Like Bend startup — and definitely unicorn — Dutchie, which just raised $350 million, placing its current valuation in the $3.75 billion range.
The Bend, Ore.-based creators of technology to help facilitate legal cannabis orders has raised $350 million in a Series D funding round, announced Thursday. The influx of new cash comes just seven months after the startup raised $200 million. Dutchie’s valuation has doubled to $3.75 billion.
“Cannabis presents opportunities for job creation, critical reforms, and opens up new revenues to support state and local economies and communities,” co-founder and CEO Ross Lipson told GeekWire. “By powering cannabis commerce and streamlining operations, we are accelerating the positive changes that cannabis is bringing to the world while normalizing the industry.”
According to TechCrunch:
Dutchie is continuously working to propel the industry forward with continuous education on the benefits of cannabis and backing more legalizations and regulatory work. Cannabis is seeing more startups bringing technology into the fold, attracting talent and investment. In April, Crunchbase reported that $357 million was invested into cannabis companies so far in 2021, while forecasters say cannabis will be a $100 billion industry in the U.S. by 2030.
For more information, visit Dutchie.