Cannabis software startup lands $1.5 mil

marijuana g ftdAnother cannabis-related startup has raised more than $1.5 million in its latest fundraising round.

Denver-based Flowhub, which designs software and hardware for growers to wirelessly monitor their cannabis plants, just raised $1.6 million, according to SEC documents filed on Feb. 17.

Flowhub is more than halfway to its $3 million goal, as per the documents.

Flowhub spokeswoman Keli Wells declined to comment on the raise when reached by email.

The company has two main products: a cloud-based software system that keeps track of a plant’s life cycle and a hardware scanner that allows growers to scan a plant’s bar code to track it from when it’s planted to when it’s sold to a dispensary. The software is useful not only because it keeps track of a company’s cannabis, but also because it aids with state compliance.

Last week’s raise is Flowhub’s second since the company was founded in 2015. According to SEC documents and a Flowhub press release, the company also raised $500,000 from April-June 2015.

Flowhub founder Kyle Sherman launched the company in 2015 after he experienced difficulties keeping track of inventory at a grow he worked at, according to the company’s website. The company office is at  820 16th St.

 

marijuana g ftdAnother cannabis-related startup has raised more than $1.5 million in its latest fundraising round.

Denver-based Flowhub, which designs software and hardware for growers to wirelessly monitor their cannabis plants, just raised $1.6 million, according to SEC documents filed on Feb. 17.

Flowhub is more than halfway to its $3 million goal, as per the documents.

Flowhub spokeswoman Keli Wells declined to comment on the raise when reached by email.

The company has two main products: a cloud-based software system that keeps track of a plant’s life cycle and a hardware scanner that allows growers to scan a plant’s bar code to track it from when it’s planted to when it’s sold to a dispensary. The software is useful not only because it keeps track of a company’s cannabis, but also because it aids with state compliance.

Last week’s raise is Flowhub’s second since the company was founded in 2015. According to SEC documents and a Flowhub press release, the company also raised $500,000 from April-June 2015.

Flowhub founder Kyle Sherman launched the company in 2015 after he experienced difficulties keeping track of inventory at a grow he worked at, according to the company’s website. The company office is at  820 16th St.

 

This story is for our paid subscribers only. Please become one of the thousands of BusinessDen members today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Cannabis

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *