Marijuana business accelerator CanopyBoulder invests $180,000 in cannabis startups and launches its Spring 2018 cohort
Nickie Louise
Posted On February 14, 2018
Marijuana business accelerator and seed-stage investment fund, CanopyBoulder, today announced it is investing $180,000 in cannabis startups. The company announced the launching of its ninth cohort (Spring 2018 class) of ancillary cannabis companies. Six startups are enrolled in Canopy’s 16-week accelerator program. 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.
Founded in 2015, CanopyBoulder is a seed-stage investment fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry. It that has launched 63 businesses and made nearly 80 investments since its inception in 2015. The firm looks for startups with great teams working on hard problems in growing industries. 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.
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.”
CanopyBoulder will host a launch party for its Spring 2018 class on Thursday, February 15th at 6pm MT. 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.
