After raising $200 million in a Series C funding round and acquiring two software companies, the founders of Oregon-based cannabis tech platform Dutchie say the company has a staggering $1.7 billion valuation.
Retail pandemic partners
Founded by the same brother duo who created Canada’s first restaurant delivery app – GrubCanada – Dutchie’s e-comm platform is used by 2,116 storefronts in 36 markets in the US and Canada, reports CNBC.
When the pandemic shuttered in-person shopping, Dutchie stepped in. They were particularly helpful to independently-owned shops without the in-house tools to accommodate online orders, curbside pickup and delivery.
And as a gauge on just how early e-comm/delivery is for cannabis: Colorado, the world’s most mature adult-use market, just started a pilot project on adult-use cannabis delivery. So hockey stick growth is expected ahead.
Next stop: Growth
As e-comm and cannabis evolve, the Dutchie platform will hopefully strengthen cannabis retail. The acquisitions of cannabis software companies LeafLogix and Greenbits will “create unparalleled opportunities to build solutions for our retailers,” reads the company blog, and will help enable Dutchie to provide more options to retailers.
What will they do next? The Dutchie post continues:
“For Dutchie, LeafLogix, and Greenbits, investing in our APIs and integrations will remain a top priority, staying true to our commitment to provide a platform that puts retailers first.”
