Investors are waiting for Dutchie IPO; this is an online cannabis startup that offers software and a marketplace for cannabis product delivery. The company is currently worth $1.70B.
Dutchie was founded in 2017 with the goal of making cannabis as affordable as possible through the use of advanced technology. Dutchie's main competition includes Weedmaps, which is also a startup.
Overall, Dutchie raised $253M in four investment rounds, the latest one being in March 2021 worth $200M. One of the investors is Casa Verde Capital, owned by the renowned rapper Snoop Dogg.
Dutchie recently announced acquiring two IT startups, Greenbits and LeafLogix, with a purpose to strengthen its market position.
So far, no official information has been received from Dutchie regarding its IPO. However, the legal status of cannabis is changing: in November 2020, five US's states legalized the medical and recreational use of this plant, so, overall, there are some nice opportunities for business development.
As New Frontier Data reports, the cannabis market is actively growing and could reach $30B by 2025, partly due to the global pandemic, which boosted the demand for cannabinoid products.
