Best Cannabis Start-Ups of 2021

2020 was a year unlike no other for cannabis startups!

There was a huge increase in interest from a number of venture capitalists, and here is a quick list of the top cannabis startups of 2020 to look forward to again in 2021.

Ascend Wellness Holdings – $68.2 Million

The company was founded in 2018 and closed a round of funding late in 2020 of more than $68 million. The New York based company has raised almost $210 million to date. 

Ascend sells cannabis in five states including Michigan, Massachusetts, Illinois, New Jersey, and Ohio.

The focus is on the states east of the Rocky Mountains and it is also rumored that the company might be considering an IPO in the near future.

Definitely worth keeping an eye on as cannabis is legalized in more and more states.

LeafLink – $40 Million

Leaflink has been around since 2015 and has locations in New York City, Los Angeles, and Toronto.

The company closed a $40 million round of funding in late 2020 and has received a total of $91 million from venture capitalists.

LeafLink is essentially a wholesale portal for products within the cannabis world.

LeafLink has positioned itself as an e-commerce company ready to benefit based on the growth of the cannabis industry as a whole. The company seeks to grow by adding new markets with better delivery, payment processing, analytics and data.

Dutchie – $35 Million

Dutchie was started in 2017 in Oregon and closed a round of funding for $35 million in 2020. It has been able to raise a total of $53 million and now has a post-money valuation of more than $200 million.

Dutchie is another marketplace for cannabis online that allows consumers to purchase products from retailers that can then be picked up or delivered.

The company plans to continue to expand on its online shopping offerings and coordination between dispensaries and consumers.

Front Range Biosciences – $31 Million

Front Range Biosciences is the first company to be based in Colorado (Boulder) and has been around since 2015.

The company closed a Series B round of $31 million in August 2020 with the final number possibly being higher, around $45 million.

Front Range Biosciences is slightly different from the other companies in that it is a company centered around hemp and cannabis genetics.

This means a lot of potential in the near future and in 2021 especially with new offerings to the overall cannabis market.

Fyllo – $26 Million

Fyllo is fairly new to the game having been founded in 2019 in Chicago. The company closed a round of funding in August of 2020 of $26 million.

Fyllo offers software centered around data and compliance for cannabis and has a huge focus on solutions made for some of the different statewide regulatory structures in the emerging industry.

Fyllo is seeking to enter other emerging industries like online gambling and E-sports.

Greenbits – $23 Million

Greenbits is based in the Bay Area and Portland and has been around since 2014. The company closed a $23 million round of funding in 2020 and has raised nearly $50 million to date.

Greenbits is a company focused on retail technology within the cannabis industry.

They partner with more than 1,200 retailers in more than a dozen different states to allow for further automation, inventory control, insights, point of sale, and more.

The company seeks to expand further into North American markets in the near future.

Kadenwood – $15 Million

Kadenwood was founded in 2019 in California and raised $15 million at the beginning of 2020.

The company is privately held and focused on consumer products overall. It has also expanded into pet care and supplements as of late and will continue to be on the forefront of innovation of science moving forward.

Dosist – $15 Million

Dosist is the last company to grace this list having been founded in 2016 in California.

The company is both a vaporizer and wellness company with a focus on cannabis products that are dose-controlled. Their products have varying degrees of potency and produce their own vape pens.