Lately, my inbox has been chock-full of pitches for weed businesses.
A couple of years ago it was bitcoin/blockchain startups, then came scooters; now, it seems “CannTech” is hitting an all-time high thanks to support from venture capitalists. By the way, I didn’t make up the term CannTech, but it seems just as good as anything else, so I’m rolling with it.
According to data collected by PitchBook, VCs have put $1.2 billion in U.S.-based cannabis companies so far in 2019. That’s significantly more than last year’s record high of $836 million, and we aren’t even halfway through 2019.
At this rate, we can expect roughly $2.5 billion invested in CannTech in 2019, i.e. more capital invested in the space in a single year than