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Cannabis tech startup Dutchie raises $350M to double valuation to $3.75B in less than a year

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Dutchie is rolling in the green.

The Bend, Ore.-based creators of technology to help facilitate legal cannabis orders has raised $350 million in a Series D funding round, announced Thursday. The influx of new cash comes just seven months after the startup raised $200 million. Dutchie’s valuation has doubled to $3.75 billion.

“Cannabis presents opportunities for job creation, critical reforms, and opens up new revenues to support state and local economies and communities,” co-founder and CEO Ross Lipson said. “By powering cannabis commerce and streamlining operations, we are accelerating the positive changes that cannabis is bringing to the world while normalizing the industry.”

Founded in 2017 by Lipson and his brother Zach, Dutchie has raised $603 million to date and more than doubled in size over the past six months to over 500 employees across 40 different U.S. states and Canada.

The company’s technology includes e-commerce, point of sale and seamless payment solutions and is used to power annual sales of more than $14 billion at 5,000 cannabis dispensaries across North America. Shoppers can search online for a nearby dispensary, browse products, place an order and arrange to pick it up or have it delivered. [Read More @ Geekwire]


The post Cannabis tech startup Dutchie raises $350M to double valuation to $3.75B in less than a year appeared first on Cannabis Business Executive - Cannabis and Marijuana industry news.


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