BOULDER — Canopy, a Boulder-based venture fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry, is kicking off its Spring 2017 Class of startups on Wednesday.
Ten startups are taking part in the 16-week accelerator program. Thebusinesses range from geo-mapping technology to help consumers find the best value on cannabis products, to vending machines that use facial-recognition technology to securely identify consumers.
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Each of the companies receives $30,000 in seed funding from Canopy, with a chance to earn an additional $50,000 in funding later in the program. In return, Canopy receives an equity stake in the startup, ranging from 6 percent to 9.5 percent.
Canopy, led by managing director Micah Tapman, connects companies with mentors and introduces founders to a cannabis investor network through its partner, The Arcview Group. The Arcview Investor Network includes more than 625 accredited investors who have invested more than $91 million in 135 companies.
The 10 companies included in the spring class are:
Croptimize provides technology to drive efficiencies for growers, encouraging energy savings and conservation. They optimize demand profiles and reduce operating expenses through machine learning to leverage rate structure management and utility incentives. Founded by Kevin Mayer, Boulder.
Snapp Digital provides ad control for digital networks. Snapp’s platform allows advertisers to buy ad space and manage content from a simple dashboard, solving the problem of buying and managing ad space in a simplified and cost-effective platform. Founded by Dustin Lato and Ron Warner, Cleveland.
Solutions Vending uses facial recognition software to convert standard vending machines into an intelligent kiosk that collects purchasing information. Founded by Dawn Dickson, Miami.
Who Is Happy connects cannabis consumers around the globe with an international geo-location based social network. Launched in 2016, the app grew to 170,000 users and has almost 1 million check-ins to date. Founded by Joao Paulo Costa and Henrique Torelli, New York.
Cannabis Big Data integrates with data sources such as point of sale and accounting to publish business-management reports that identify areas for improved efficiencies and revenue. Founded by Henry Finkelstein, Colorado Springs.
Sana Packaging offers rectangular, stackable cannabis containers made from biodegradable hemp-based plastic, resulting in a reduction of their carbon footprint by eliminating traditional petroleum-based plastic from the equation. Founded by Ron Basak-Smith, Easton, Conn., and James Eichner, Montagnola, Switzerland.
Bloom Automation creates high-tech robotics that allow for tasks within a cultivation setting to be automated. Founded by Jon Gowa, Boston.
CannaZoning is a platform that provides visualization of state and local marijuana zoning laws, helping businesses understand the lay of the land, filter the noise and avoid costly pitfalls associated with cannabis business zoning. Founded by Ben Livingston, Seattle.
Firesale uses geo-mapping technology to provide real-time information on cannabis deals in any location. Its user-friendly search function allows consumers to find flower based on potency, strain or price. Founded by Damien Payne and Clay Nutting, Sacramento, Calif.
Estrohaze is a cannabis-focused media outlet designed to break the stigma surrounding women and minorities. The platform includes resources, career opportunities, and lifestyle content that focuses on women of color benefiting from the cannabis plant. Founded by Safon Floyd, Kali Wilder and Sirita Wright, Brooklyn, N.Y.