The cannabis industry is building its foundation on technology, and a new generation of tech companies are racing to claim spots as innovative leaders. What’s interesting is that it’s a natural transition for many enterprise technology, health IT and biotechnology software and data analysis companies.
We are continuing to see large enterprise companies like HP who are partnering with startups such as Flowhub in developing cannabis technology applications. Here are a few just a few innovations we’re watching:
Research Technology
Using the most advanced medical technology from cancer research to DNA testing, scientists have the capability to test extracts against cancer cell lines and analyze how various strains and doses are metabolized through DNA testing. The CannaGX DNA test is now available to the general public for those wanting to take control of their health and fitness through personal genome analysis.
Inventory Management and Compliance to POS
Similar to compliance technology used in the highly-regulated pharmaceutical and medical industries, cannabis compliance is an essential investment. The proven model paves the way for companies, like Flowhub, to provide a business management platform for seed-to-sale tracking and data reporting. Their end-to-end platform offers inventory management and compliance for growth facilities and retailers, point-of-sale (POS) for dispensaries, as well as a SaaS platform to run operations.
Lab Tech
Without cohesive testing methodologies among states that have legalized cannabis, laboratories have struggled to develop coordinated analysis to ensure cannabis meets industries safety standards. From the genetics of cannabis, potency to safety screening company Steep Hill Labs, Inc. was the first to take on this challenge, and are quickly expanding throughout the U.S. and globally.
Blockchain Technology
As one of the most efficient social apps out here, blockchain is helping users gain knowledge on cannabis strains, discover products, and find retailers. Using review based interactions, MassRoots has become a trusted online community. Furthermore, it has benefited businesses looking for a loyal customer base. Through blockchain, MassRoots has developed the technology to collect metadata on their users without compromising their identity and funnel it back to these businesses looking to identify their customer base.
In addition, companies with a focus on patient care, intellectual property, precision agriculture, and many more are developing applications and technology to support the cannabis industry. It is proving to become one of the largest growth industries of our time, and investors are not waiting for legislation to catch up.
Other Top Cannatech Companies Worth Watching:
Baker – CRM for the cannabis industry.
Cannabix Technologies – Breathalyzer for law enforcement and the workplace.
New Frontier Data – Data and analyst reporting for businesses and stakeholders.
PotBotics – Provides recommendations of strains for patients based on scientific research and data.
Headset – Provides real-time cannabis data to help cannabusinesses keep up to date with industry trends and optimize their inventory.
Medicinal Genomics – Using blockchain technology they provide growers with the ability to register and store their unique strains providing some intellectual property protection from larger companies that may try to productize the strain down the road.
Ehave – A mental health data collection and analytics company that aims to establish treatment guidelines for therapies and improve patient care.
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