There aren’t many industries out there that are unaffected by the impact of technology. The cannabis industry, in particular, is constantly evolving and finding new and innovative ways to do things. From the planting to the cultivation, harvesting, packaging, sales, and the general mode of doing things are quickly changing. Some organizations have realized the need for improvement and relative use of doing things and have strategically positioned themselves as the forerunners as far as cannabis is concerned.
The cannabis industry is the fastest-growing industry with a growth rate of about 110% and a 21% increase in job creation. The industry made about $17 billion last year and since inception, has made over $55 billion with just a few years under its belt. Another industry that has seen immense growth in recent years is the tech world, these two industries are rapidly expanding and creating job opportunities that didn’t seem to exist a few years ago. However, some tech companies are offering to make life even easier for the cannabis industry, hence cannatech organizations.
There is the demand for online shopping services where patients can buy their buds and strains without leaving their homes, ‘cannapreneurs’ need customer relations management systems and marketing automation software to keep track of their sales, and create new offers to keep customers. While some patients would need help with the process of registering for medical marijuana cards.
The U.S. controls about a third of the cannabis market and in general are a good representation of what is to come in the global market. Let’s take a look into the cannatech companies taking over.
The cannatech company Veriheal is a networking platform that connects potential marijuana patients with licensed doctors that will recommend them for their respective state’s medical marijuana program. Veriheal takes it upon themself to be the third party that bridges the gap between prospective patients and licensed physicians as not all physicians are part of their state’s medical marijuana program. As finding these doctors can be an uphill task, Veriheal has set up a system that helps patients with even the whole process of their application and verification.
Veriheal also prides itself as one of the foremost cannabis educators in the industry as it highlights the usefulness and benefits of cannabis and how it can be useful in the patient’s healing process. The company has recently launched a cannabis consulting service across all 50 states in the U.S. This personalized consult service makes it possible for individuals to make better choices as regards their choice of cannabis products and which would be most suitable for the person. This includes information on cannabis strains, state marijuana laws and lots more.
When you think of the supply chain and logistics industry some names definitely come to mind, you think Uber and Amazon. The same goes for the cannabis industry right about now. When you think the delivery of cannabis products you think Eaze. Eaze has carved a name for itself in medical marijuana delivery. This company partners with dispensaries for supplies and then hire drivers and coordinate logistics to users. Eaze is also one of the best-funded cannatech startups with over $50 million received in funds from investors, but are currently having quite the cash flow problem.
The organization basically carries out its operation using a front end application that users can use to place their orders by selecting from a wide range of available cannabis products like skincare products, oils, flowers, buds, and more, of delivering right to the customer’s location. With its headquarters in San Francisco, California and currently delivers within California and Oregon.
Similar to the way other big logistics giant work, Eaze simply connects drivers with dispensaries that need them acting as the third party. They, in essence, give customer legal access to cannabis products through delivery offering convenience.
This organization focuses on customer relationship management and marketing automation tools for its clientele base. It prides itself as the salesforce of cannabis and not without good reason as it has over 1.2 million customers and services 1,000 dispensaries across the U.S. and Canada. The organization has recently launched an application that allows its affiliate companies to interact better and faster with the organization.
Baker currently works with most cultivators and dispensaries and empowering them to be strategically positioned with sales and marketing tools to satisfy their customers. Baker has acquired $12 million in funding from investors which is sure going to power them on. It offers dispensaries smart products that include customer loyalty, messaging, and analytics. Its clients see a 40% boost in orders received and guarantees a full return on investment in ten weeks.
This is an organization that focuses on data analytics and the use of data to provide key insights to cannabis entrepreneurs from cultivators to dispensaries helping them make key decisions that would help drive their businesses. Their software is built, integrated and optimized for use across mobile devices and desktop thus improving access wherever and whenever. The software would give real-time data analysis of sales and industry trends. It recently formed an alliance with Nielsen and Deloitte.
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