Business Insider, a leading online media outlet reporting on the top global tech, finance, markets, and strategy stories, has declared that since 2021 was the year of mega-rounds for cannabis startups, 2022 is the year we can expect to see big things from many cannabis companies, like Leaf Trade.
In total, investors poured $2.7 billion across 272 deals into cannabis startups, up from $1.5 billion in 2020, according to the data provider PitchBook. While some big-name funds made their first cannabis investments in 2021, the industry is still being led by firms that focus exclusively on cannabis, given its federal illegality in the US.
Robert Sciarrone, the principal at Measure8, says Leaf Trade is revolutionizing the B2B side of the cannabis industry. Cannabis regulations vary by state, and Sciarrone said Leaf Trade’s expertise helped integrate various reporting and tracking systems. “The company has astutely focused on achieving majority market share in the Midwest and East Coast where supply constraints make Leaf Trade’s technology vital to their customers’ success and operational efficiency,” Sciarrone added.
William Muecke, a cofounder and managing member at Artemis Growth Partners, called Leaf Trade the “best national marketplace and software integrator for US companies.” Muecke added that the startup was approaching $2 billion in sales through its platform.
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