Cannabis Technology Platform Dutchie Rolls Up $200M Series C To Hit $1.7B Valuation

Dutchie, which outfits dispensaries with the technology and tools needed to provide safe and easy access to cannabis, raised its largest funding to date, $200 million in a Series C, to value the company at $1.7 billion. “The industry is bringing change, and it’s a beautiful opportunity to be a part of it.” Since last November, six new states passed legalization measures for cannabis and a record-high percentage of Americans now support legalization as they’ve learned about the societal benefits, including improving health and wellness, the impact on social justice, and powering local communities through a safe revenue stream, Lipson said. Dutchie connects consumers to local cannabis retailers and is capitalizing on trends that show the legal marijuana industry is one of the fastest-growing in the world and is slated to reach $30 billion in value in 2025. However, dispensaries are still fragmented and nascent even though the industry is poised to grow rapidly at a 35 percent compound annual growth rate, Lipson said. “We raised our Series B during the pandemic and saw accelerated growth, driven by the industry, as a whole, being deemed an essential business during that time and by consumers adopting the product,” Lipson said.