The market for marijuana sold legally is experiencing significant growth. Along with it, the rapidly expanding cannabis economy has given rise to an emerging top cannabis tech companies sector.
Licensed marijuana sales totalled more than $ 10 billion across North America in 2016 and more than $6.7billion last year. More than 255,000 jobs will be created by 2019 and $24.5 billion will be sold in 2025, according to research group New Frontier Data. In this bigger picture, cannabis is just another type of product. It is surrounded by every kind of business you can think of, and it is part of an ecosystem of applications, services, and software.
Whether it’s online shopping with on-demand delivery or in dispensaries, customers expect the most convenient ways to purchase their preferred strains, edibles, and oils. Customer relationship management and marketing automation platforms are essential for budtenders and ganjapreneurs to keep track of their product catalogs, maintain the books, and keep customers returning through deals, special offers, and loyalty programs.
Seed-to-sale systems are required by growers and manufacturers to monitor compliance and ensure that each plant and commodity is accounted for. This is just the tip of the iceberg when it comes to all the new apps and gadgets that are available.
Here are some of the Top Cannabis Tech Companies that enable the purchase of legal cannabis fast, safe and efficient.
The Best Cannabis Tech Companies
CanPay
Several dispensaries are in a dilemma when it comes to the methods of payment that they can accept for the products and services that they offer, even though the cannabis industry in the United States is valued at over $24 billion.
With a simplified debit card that connects retailers to their client’s bank accounts, CanPay, a game-changer among top cannabis tech companies located in Colorado, intends to solve the cash-only problem that plagues the cannabis sector. The company is now the finest solution to the cash problem that the cannabis industry faces that we have yet uncovered. It provides service in around 30 states across the Country and in Columbia.
Steep Hill
The areas of testing, licensing, genetics, and research and development are among the least apparent (but most essential) in the world of legally grown cannabis. Steep Hill, which promotes itself as the most innovative cannabis science and technology firm in the world, truly lives up to the hype.
Following the establishment of the country’s first commercial cannabis lab in 2008, the company is making preparations to broaden its operations to include various locations in the European Union as well as Mexico. Steep Hill’s contributions to the legal cannabis industry may not be obvious to the general public, but we’re here to tell you that they’re a vital part of the industry’s infrastructure.
FlowHub
It’s important to keep an eye on this cannabis-friendly software provider because of its considerable influence. FlowHub‘s seed-to-sale solutions enable merchants to streamline and automate their processes, and give a clear and transparent platform, all while helping to keep items off of the illegal market.
FlowHub’s platform is used by more than 1000 cannabis shops and their partners. Following the receipt of a large investment of $23 million in 2019, the business now handles yearly sales of more than $3 billion.
Caliper
Even though there is growing support for the nationwide legalization of cannabis in all of its forms, it is important to keep in mind that the non-psychoactive compound CBD is significantly easier to obtain than THC. This is especially true in states where it is illegal to possess more than a trace amount of THC.
Caliper, based in Colorado, is a company that fills this void. They have invested a significant amount of research and development in the formulation of quick-acting CBD powders that can be added to many foods and drinks (or simply dissolved on the tongue).
It is unclear whether or not the company’s goods will be successful on the retail level; nevertheless, it is unquestionable that a growing number of foodservice formulators and distributors are selling CBD-enhanced products, and Caliper is in the ideal position to assist these businesses in achieving their goals.
BlackbirdGo
Delivery services for cannabis were already on the rise before the arrival of COVID-19, which threw a spanner in everyone’s plans. These services included both traditional pharmacies and fleet delivery companies. And out of the second group, BlackbirdGo has popped up as one of the leading names in the market, particularly after the former front-runner Eaze imploded and was forced to restructure themselves into a model of vertical integration. Blackbird has emerged as one of the leading players in the industry because of this.
BlackbirdGo’s business model is founded on the idea that customers should be able to buy cannabis online just like they would any other product. The company connects customers with local sellers who either provide in-store pickup or delivery services, similar to solutions like BongMe, a Cannabis Delivery Management software that aims to simplify the purchase and selling process of cannabis legally.
Business Model of Top Cannabis Tech Companies
The Delivery-Oriented Model
You might become the delivery partner for dispensaries or other establishments that sell cannabis, providing delivery services as well as logistics support. In exchange, you will be eligible for a commission on each completed order.
Single Store Model
If you operate a Cannabis Store, you have the option of developing your own Cannabis app, which will allow you to boost sales without having to engage in cutthroat competition with other Cannabis providers on an aggregate platform.
Aggregator Model
You may create a platform that allows users and stores to engage with one another and coordinate delivery. It is possible to act as an aggregator without really owning anything, such as physical stores or a network of delivery drivers.
BongMe helps the entrepreneurs trying to start Cannabis Tech Companies to have a flexible software framework that can be modified to have each of these three business models.
