Technology Archives - Green Market Report

Debra BorchardtDebra BorchardtFebruary 12, 2019
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5min1040

Cannabis tech company Cannaregs, Inc. has completed a $2 million capital raise that the company will use to expand services and features across the country under the company’s umbrella of Regs Technology. Cannaregs is the leading web-based data technology platform providing up-to-date access to comprehensive cannabis-related legal data including rules and regulations from municipal, county, state and federal sources.

In other words, the company has solved for something that many have tried to do and been unsuccessful, which is drilling down to the local level on regulations. It’s a subscription-based service that many cannabis operators, law firms, investors, real estate professionals, consultants, and governments have used to track cannabis regulation and policy, in real-time, providing users with critical information they need to make strategic business decisions.  For more information visit www.cannaregs.com.

“We’ve built a terrific set of advanced data services for our CannaRegs subscribers and are proud to be working with the best companies in the cannabis industry,” explained Founder and CEO Amanda Ostrowitz. “With this infusion of capital, we’re confident that we will take RegsTech to the next level.”

Ostrowitz has identified other industries that would be affected by local level regulations and laws similar to cannabis. Self-driving cars, drones, robotic deliveries, ride-share businesses, dockless bikes, and scooters. Even electric vehicles and charging stations could be subjected to various municipality requirements. The next portal on the horizon for RegTech is TransitRegs

Lead investors include Phyto Partners and Panther Opportunity Fund along with other high profile tech and cannabis VC investment. “By simplifying local legal search, Cannaregs helps all industry participants understand and comply with the laws saving time money and potential regulatory scrutiny,” said Larry Schnurmacher managing partner of Phyto.  “As the cannabis economy continues to expand to more states, the need for this type of legal resource grows and we think cannaregs will capture that market.” 

Jordan Tritt, Principal at Panther Opportunity Fund added, “We are excited to be investing in RegsTechafter following Amanda Ostrowitz over the last two years and seeing her grow her team and company to be the leading provider of local compliance and regulatory tracking software. Amanda and her team are very well respected among cannabis operators, consultants and government entities, and this capital raise will allow RegsTech to expand its reach within the cannabis industry as well as other highly regulated and localized industries.”

CannaRegs currently provides comprehensive cannabis laws for the states of California, Colorado, Florida, New Jersey, Nevada, Massachusetts, Michigan, Illinois, Ohio, New York, Missouri, and Pennsylvania to be followed by all other states that permit medical and/or recreational marijuana.

 


Debra BorchardtDebra BorchardtJanuary 31, 2019
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9min5980

Licenses for cannabis operators are multiplying as fast as the plants can be grown. According to Cannabiz Media, in the fourth quarter, the state of Connecticut doubled their dispensaries from nine to 18 and Oklahoma went on a license issuing frenzy. By the end of 2018, the Sooner state issued 805 dispensary licenses, 1,302 growers and 341 processors.

They are dwarfed by California which has almost doubled its licenses since November. The state has 10,940 active licenses, although Ed Keating the co-founder of Cannabiz Media noted that only a few dozen are annual licenses. In comparing licenses issued by activity, many categories almost doubled like distributor at 198%, manufacturer at 188%, and cultivator at 178% and retailers increased by 58%.

As more states legalize adult use sales, cannabis is becoming a rapidly growing market that topped $8.5 billion in spending in 2017 and will nearly reach $11 billion in 2018 and then push past $23 billion by 2022.

In Colorado, there were 509 retail dispensaries. Washington State has 514 and Oregon has 561. The numbers continue to grow as more states like Michigan, New York, and New Jersey begin planning for legalized adult use sales. As a result of this, being on the front line and customer facing is seen as the sweet spot for many companies. These are some of the top consumer-facing retail technology cannabis companies in the industry today.

Headset

Headset is the top retail data provider. This company captures consumer purchasing data at the point of sale in real time. Producers can use the data to learn what is and isn’t selling and determine consumer preferences. For example, when it comes to cannabis edibles, gummies are the big winner in Colorado, while mints are the product of choice in Washington. The retailers can also mine this data to track inventory levels and learn what their customers prefer. Do they like sweet or sour flavors?

Dispensary owners can also use the past performance data to predict future buying habits. If the upcoming Valentine’s holiday demonstrated a big jump in chocolate sales, then the owner can make sure they are stocked up.

Headset recently completed a Series A funding round of $12.1 million. This money will go towards improving current products and services and expanding the company’s offerings to additional U.S. states and international markets. It will also help the company serve new customers from the consumer packaged goods, beverage/alcohol, and financial industries, who are taking an increased interest in cannabis.

Springbig

Dispensaries can’t advertise in traditional methods and the customers probably wouldn’t respond to traditional ads anyway. Springbig is able to capitalize on this by helping dispensary owners reach customers in loyalty programs through text messaging. Everybody loves to be rewarded and find bargains when shopping and cannabis consumers are no different. Earning points for purchases motivates customers to stick with their favorite stores.

The data also helps owners get more sales and it also lets them analyze what works best with their customers. The company said that dispensaries that use Springbig found that their customers spent more and that revenue increased by 25%. The company can even drill down into the customer’s preference and then only send targeted promotions. For example, if a consumer only wants flower, then they won’t be sent promotions for edibles if that is what they prefer.

Seed

Seed is an in-store cannabis educator. With interactive touch screens, customers can easily get answers to their questions, which frees up the dispensary employees time. The company was developed to help the dispensary staff and also give the customer a nonjudgmental way to learn more about the products. Of course, the ultimate idea is to sell more product, but dispensaries are such a new experience for many people and the products are mostly unfamiliar. There is a huge learning curve and if you can ask your questions through a cool interactive touch screen, that seems easier than taking up  20 minutes of a budtenders time if there is a line of people waiting.

The units are integrated with the dispensaries inventory so once the customer goes through the touch screen to see what it is they want, the Seed is programmed to suggest items that are in stock. Having said that the company says it remains focused on education more than pushing a product. It isn’t a pay to play model such that one product can pay to be recommended over another.

Flowhub

Flowhub is the behind the counter solution for dispensary owners. This point-of-sale software is sold as a compliance solution to dispensaries. Flowhub includes a small handheld mobile device called a Nug to help speed up daily operations like scanning barcodes, checking in customers, and auditing inventory. The software gives managers complete control over their data, allowing them to generate inventory discrepancy reports and make adjustments before submitting via an API. Customers can also opt for the company’s free loyalty software that is included.

The system is also tightly synced up to METRC — the track and trace system used in most legal cannabis markets — making compliance really easy in those markets. At this time, it isn’t aligned with MJ Freeway or BioTrack, but that is expected to happen as the company expands into other markets. Flowhub is a little different from the others because it provides an open source option. This lets customers with a high level of technical knowledge customize the software for their needs. A tech nerd’s delight.

KlickTrack

KlickTrack is the new kid on the block after a beta launch in September. Co-founder Brendan Hill (of Blues Travelers fame) said it addresses common issues and pain points that the founders themselves experienced when they tried various software solutions as owners and operators of Paper and Leaf, a retail cannabis boutique, located on Bainbridge Island in Washington state. After years of frustration with non-integrated systems, they developed KlickTrack as a synchronized ecosystem, saving retailers time and money.

KlickTrack co-founder Steve Kessler said, “We created this system from inside a working retail shop from the ground up. We teamed with world-class developers, using a proprietary translator to solve industry-wide problems. KlickTrack removes the compliance worries from retailers and allows them to focus on running their business and having access to real-time actionable data.”

The company said it gives retailers the ability to easily view and manage inventory and offer their products organized by brand. It reduces inventory redundancies, speeds up workflow and enables retailers to maintain customer service on high traffic days. It provides real-time insights into all sales metrics, allowing retailers the ability to analyze historical customer and product data. The compliance translator ties directly into state regulatory systems and the company said it virtually eliminates the risk of fines and violations.


Debra BorchardtDebra BorchardtJanuary 14, 2019
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6min4231

The cannabis industry experienced a 45% growth in dispensary licenses in 2018 according to CannaBiz Media, a company that tracks cannabis licenses. Cultivator licenses grew by a whopping 110%.

One company that has managed to take advantage of the opportunity in the cannabis industry without actually touching the plant is Denver-based Flowhub. The company provides point-of-sale software that is sold as a compliance solution to dispensaries Flowhub includes a small handheld mobile device called a Nug to help speed up daily operations like scanning barcodes, checking in customers, and auditing inventory. The software gives managers complete control over their data, allowing them to generate inventory discrepancy reports and make adjustments before submitting via an API.

The system is also tightly synced up to METRC — the track and trace system used in most legal cannabis markets — making compliance really easy in those markets. At this time, it isn’t aligned with MJ Freeway or BioTrack, but that is expected to happen as the company expands into other markets. CEO Kyle Sherman said that he wanted the company to be laser-focused first on integrating with METRC and excel at that program before taking on others.

The trend of consolidation within the cannabis industry has not affected Flowhub negatively. Sherman said that it has actually worked in their favor. “With the bigger guys buying smaller players, our customers have been able to put our products there,” he said. “Of course, the single owner-operated stores will continue to exist and there is always room for them in the market,” he added. “It’s important for us to service both the big one and the small ones. That way they can outshine the competition, make better decisions, improve margins.”

Flowhub also works with lots of other popular apps and services in the cannabis space. This adaptability has made Flowhub and easy company to partner with. Sherman noted that its software comes with a free loyalty program, but they also integrate with other loyalty software companies like Springbig and Baker. In addition to that Sherman said they work well with Leafly and retail programs like Dutchy.

Another example of Flowhub flexibility within the cannabis industry is that its platform welcomes others to leverage its API to build apps on its platform. Sherman told a story about one dispensary customer who used to be a programmer and for fun he created his own dispensary software to use with Flowhub’s.

Flowhub’s clients seem to be pretty happy with the system since it brings order and compliance to their cannabis business. One dispensary client, Nectar, is currently in the process of expanding quickly across the state of Oregon with Flowhub. Similar to other emerging dispensary brands, Nectar’s growth model involves buying other dispensaries who are interested in selling their license.

Because Flowhub is integrated with METRC track-and-trace system, Nectar would easily be able to expand from its 16 retail locations in Oregon,to a completely new state, with few compliance headaches.

According to Owler, Flowhub is estimated to have annual revenue of around $2.5 million. The company is also estimated to have raised $8.8 million in capital through three different fundraising rounds beginning in 2015. Its last round took place in April 2017 for $3.25 million and it came from Green Lion Partners, Altitude  and Phyto Partners.

At the time of the deal, Larry Schnurmacher of Florida-based Phyto Partners said, “The technology solution Flowhub provides is critically important to operators, they can’t do business without it. This vertical is where we will see billion dollar valuations in the coming years.” The company also made the Green Entrepreneur 100 Cannabis Leaders of 2018 list.

Since the company’s tech and POS are so simple to replicate across multiple stores, cannabis dispensaries can easily expand and grow their businesses at scale, without missing a beat when it comes to compliance. The handheld device also speeds up the time it takes for employees to track the plants.

Sherman said the company has some new products in the pipeline that are expected to be introduced in 2019. “We’ll be supporting more hardware and making transactions faster,” he said. “We’ve listed to the customers and we’re launching new products that are even better suited for the retailers.”


Debra BorchardtDebra BorchardtDecember 19, 2018
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4min3580

Cannabis loyalty software company springbig completed its latest Series A fundraise for $5 million bringing its total amount raised to $11.3 million. This round was led by venture capital firm Altitude Investment Partners which has behind several winners in the cannabis industry.

Springbig is a technology company that provides SMS, loyalty marketing, and other tools to help encourage repeat business for cannabis retailers. The company grew 685% from September 2017 to September 2018 when it hit 1.9 million consumers on its platform.

Not only does Spring big create loyalty among the customers for the dispensaries it works with, but it also inspires loyalty among its own investors. The company said that a majority of its original investors also came back for this round, including Green Acre Capital and members of The Arcview Group.

Altitude partner Rod Stephan said, “Jeff Harris is an experienced and a motivated loyalty industry leader who has mastered the art of customer acquisition and retention. Springbig’s fully-integrated loyalty and customer relationship management tools set the standard for the industry.”

Altitude has had a hand in such cannabis leaders as BDS Analytics, Grassroots, The Green Organic Dutchman, Flowhub and Canndescent.

“The opportunity to partner the breadth and depth of springbig’s loyalty platform with Altitude is a significant milestone for the company,” said springbig founder and CEO Jeff Harris.  “We believe that cannabis is only getting bigger, and as new markets come online, loyalty marketing services will be in high demand for retailers just starting up. We plan to fill that demand with innovative solutions custom-fit for the industry.”

One of the reasons that cannabis companies have found these types of programs beneficial is that they can’t advertise in traditional methods. Even using social media is a challenge since sites like Facebook and Instagram are known for shutting down accounts associated with cannabis. With a loyalty program, dispensaries can text customers with discount offers or announce upcoming events.

Springbig says that its program has resulted in a 25% increase in sales for each promotional campaign. Businesses have said that it more than doubles their number of repeat customers. This is becoming more important as some states begin to expand the number of cannabis businesses that are allowed. The competition is heating up.

The company has hard numbers to back up the claims. One business in San Diego said that a typical day without sending an SMS campaign brought in approximately 175 visits. However, when the business embarked on a promotional campaign, the dispensary received an additional 40 visits.

Springbig has meshed its technology with 11 of the leading point-of-sale and compliance platforms in mature and emerging legal cannabis markets. The most recent of these is BioTrack THC, which is a wholly-owned subsidiary of Helix TCS Inc. (OTCQB: HLIX). BioTrack is one of the top point-of-sale and seed-to-sale tracking programs and will expand springbig’s presence even further.


Anne-Marie FischerAnne-Marie FischerOctober 29, 2018
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3min7320

As everyone who owns a cannabis retail store knows, compliance is key to running a successful legal cannabis business, and tech companies have seriously stepped up to make compliance a seamless process.

Metrc, is a well-known seed-to-sale traceability platform that helps cannabis companies manage their inventory and the movement of cannabis products through the supply chain. Operating in Colorado, Oregon, Alaska, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada and Louisiana, and Washington, D.C., Metrc helps fulfill state reporting requirements and has become known as the “de facto track-and-trace system” for government entities that regulate the legal cannabis markets.

Metrc announced its first outside round of funding in the form of $50 million from Tiger Global Management and Casa Verde Ventures, the 3-year-old, cannabis-focused venture firm co-founded by notorious cannabis enthusiast and investor Snoop Dogg, but managed largely by Goldman Sachs and Nomura Securities alum Karan Wadhera.

The partnership between Tiger Global Management and Casa Verde Ventures, where each entity “shares deal flow quite regularly”, funded Point of Sale software company GreenBits, which is designed to integrate into seed-to-sale systems like Metrc.

Metrc was formerly part of Franwell, focusing on cold chain management and fresh foods, which helped gain the supply chain management knowledge and expertise needed to transition into seed-to-sale traceability for cannabis.

Metrc CEO Jeff Wells says that the over 100-employee company plans to “look to expand our regulatory focus,” with the $50 million investment, including potential expansion into “other regulated markets and products that need the type of tools that Metrc has created.”

“Compliance is the backbone of the cannabis industry. If a license holder isn’t compliant, their business will cease to exist,” said Karan Wadhera.

 


StaffStaffOctober 4, 2018
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5min9800

Cannabis and technology are becoming quite the pairing as apps like Weedmaps, Lift & Co, Leafly, and Strainprint are becoming popular companions to the cannabis experience.

Enter a new app, StrainConnect, a strain recommendation platform that helps cannabis consumers choose cannabis products based on the ailment, desired effect, and personality characteristics.

“I built StrainConnect out of a personal need when I was trying to find a solution to my back pain after having children,” explains CEO Rachael Maddison, “The information available was overwhelming and, eventually, it became expensive to try different products that I ultimately would never end up finishing,” she describes.

After journaling her experience with different cannabis products, she verified her process with the medical, scientific and cannabis community, putting a team together to create an app that utilizes machine learning AI to do what Maddison had done manually “but far quicker, cheaper and more accurately,” she says.

With the beta version now available, the app will begin first with CBD product recommendations in the U.S. during the private beta phase and will extend the use of the app across California by opening up THC product recommendations.

StrainConnect markets itself as “the only consumer resource on the market that connects individual patient profiles with cannabis product lab results to provide unbiased, user-specific product recommendations”.

Green Market Report has featured similar apps like Strainprint, the app that was designed to help medical cannabis users in the U.S. and Canada match symptoms with strains available from Licensed Producers. The app helps consumers “use cannabis better” by collecting data from one’s cannabis session into a “medical document” that can be shared with a prescribing practitioner to follow medical cannabis therapy progress.

StrainConnect works with the recreational and adult use markets by allowing users to gain recommendations for products that have been tested by third-party labs for cannabinoid content, terpenes, and pesticides, which ensures only clean, quality products are being recommended to users.

“[The app] only accept[s] products that have both the cannabinoid AND terpene profile lab results, in addition to asking pertinent questions of the patient,” says Kristen Yoder, a cannabis industry advisor, “This is a very unique approach to combine both lab data and personality preferences. The patient has all the information needed to make an informed purchasing decision, and can feel confident knowing the product has been completely vetted.”

After the StrainConnect app makes a handful of recommended strains and products based on ailments and desired effect, it provides guidance on dosing, detailed product information and where consumers can purchase that specific product.

StrainConnect was created in February 2018, and the company was invited to join the San Francisco Founder Institute tech incubator, where an initial investment was raised in June 2018.  The company has now officially opened its pre-seed round for investors to help bring the plans for this app to full fruition. Interested investors may email connect@strainconnect.com for more information.

To sign up for the beta visit www.strainconnect.com.

 


Jack SmithJack SmithSeptember 11, 2018
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4min8642

Treez, a point of sale software (POS) provider, which could be described as the Oracle of the marijuana industry, announced it has raised $11.5 million in a new Series A funding round.

The new funding, which brings the total funding the company has raised to $15 million, was led by Intrinsic Capital Partners, which provided $10 million of the funding by itself. Also providing investments are AFI Capital Partners and Welcan Capital.

Treez CEO John Yang said that the capital raise allows the company to grow and expand in the burgeoning cannabis market while giving dispensaries, commercial and retail sellers their tech solutions all under one roof. “We’re thrilled that our funding has put us in a position where we can continue to expand our team, invest in beneficial partnerships, and bring more creative retail management solutions to this rapidly growing industry,” said Yang in a statement.

Yang continued: “When we created Treez, we understood the impact our technology could have within the cannabis industry—ushering in a new era of automated compliance, data-driven insights, and a more modern, integrated cannabis ecosystem.”

In addition, the firm will use the new funds to “expand its footprint, pursue market expansion opportunities and invest in partnerships that will help seamlessly connect each link in the supply chain.”

The POS market is expected to surge over the next few years, as consumers continue to move away from cash and more small businesses get accustomed to new systems and upgrade existing ones. According to Grand View Research, the mobile POS market is expected to grow 17 percent annually until 2024, due largely to “small specialty and retail businesses find tablets a powerful substitute for the traditional point-of-sale systems,” Grand View wrote in its report.

Treez, which launched just two years ago, describes itself as an “enterprise software platform solution company for retailers in the cannabis space,” according to its CrunchBase page.

Based in Fremont, Calif., it was founded by Yang, Shareef El-Sissi and Wayne Lee. It had raised $1.2 million prior to the Series A funding.

Jerry Stahlecker of Intrinsic said that the Pennsylvania-based equity firm looks at businesses that are transforming the cannabis industry and noted that Treez fits the bill.

“We’re excited to invest in a team that has delivered the industry’s leading enterprise retail management technology and look forward to supporting Treez in growing its market share and developing broader industry solutions,” Stahlecker said.


StrainprintStrainprintJuly 24, 2018
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7min8510

(Editors Note: This content has been contributed by Strainprint)

Strainprint is leading the way in the cannabis industry with its rich and robust medical patient data and sophisticated Business Intelligence solutions. With a vision to advance the scientific understanding of cannabis and its legitimization as a therapy and to have the largest longitudinal study of cannabis use in the world, Strainprint is using Patient Generated Health-Data (PGHD) to help health professionals, producers, researchers and educators understand and make informed decisions about patient treatment.

How it all began

Starting as an idea back in 2014, one of the founders, Stephanie Karasick, first came up with the concept after becoming a cannabis patient and learning first hand the complexity of navigating cannabis as a treatment option. Shocked at how different each strain she tried made her feel, she kept a detailed written diary.  Although she was very diligent and deliberate in her tracking, she couldn’t help but wonder if there was a better way for patients to track their use of cannabis. She searched for online tools, but found very little to help inform her as a patient about dosing and strain efficacy.  That was the genesis of the Strainprint App.

Why Is Strainprint Important?

For patients, the outcome-tracking Strainprint App is invaluable. It is designed to help them easily journal their cannabis medication sessions and over time learn which strains work best for the symptoms they are treating. They can also explore which strains are working for others that are treating similar symptoms/conditions and learn more about the ingredients and efficacy of those strains.  

Why do patients love Strainprint the app? Aside from the fact that it’s free and they have access to an amazing loyalty rewards program*, they can also securely share their treatment history with their physicians, which in turn helps their physicians to better guide them.  Overall, Strainprint helps them to gain a full understanding of how to treat their symptoms/conditions and basically to “use cannabis better!”  

Since March 2017, tens of thousands of cannabis patients have tracked almost 700,000 personal health sessions on the app, generating almost 10 million cannabis data points.  It is the largest and most granular longitudinal, observational data set on cannabis in the world and it’s growing at 20% per month.  These are not qualitative “reviews” like you find on Leafly, Weedmaps or Lift, but rather research-focused (doctor-designed) medical outcomes.

While Strainprint gives the app away to patients for free, it offers a web-based Analytics platform for businesses to visually understand and mine anonymous data in real-time.  Producers (growers) use Strainprint Analytics for business intelligence and product optimization (ie. understanding what’s working for what and what they should be growing). Clinics, doctors, and large Pharmacy chains use it for patient treatment guidance and research. Biotech’s use it for product formulations and governments use it to help drive public policy.  

Supporting Clinical Research

As the database continues to grow, so has the interest in using Strainprint data for defining clinical research and medical cannabis studies.  The good news is that the platform is research ready.  The mobile app can be custom-branded (white-labeled), as well as configured with validated questionnaires and custom surveys.  The results can be accessed in real-time in Strainprint Analytics and can easily be compared with a full global data set.  The platform is ethics-ready and privacy compliant for North America and soon Europe.  

Recently, researchers from Washington State University published a study on cannabis use for treating anxiety, depression and stress, based entirely on archival Strainprint data.  The results, found in the Journal of Affective Disorders, revealed some key medical findings, including that “medical cannabis users, report a substantial and significant reduction in symptoms of negative affect shortly after using cannabis.”

“We are excited to see the many ways that Strainprint data is helping patients, clinicians, and researchers to understand cannabis in a scientific way. Our platform all cannabis patients to inform their doctors and the research community presents a unique opportunity to advance research and advocacy for medical cannabis” said Strainprint CEO, Andrew Muroff.

What’s Next?

Strainprint recently closed a Cdn.$3.9 million Series A capital raise and is focused on continued product development and talent acquisition to execute strategic initiatives in the coming year. With two major product releases since March 2017, the Strainprint team is preparing for entry into international legal markets outside of North America and is evolving its product line to support the legalization of adult-use cannabis in Canada.

“Most traditional medical specializations have a strong clinical and evidence-based library of resources available to them, but research on cannabis has been limited due to its prohibition for almost 80 years,” says Muroff.  “We now have the opportunity to bridge the gap between the community of users and those who care for them, while also supporting those who make decisions around public policy and the legal status of cannabis understand it better.”

Strainprint’s self-proclaimed “datanerds” are changing how the industry views cannabis, one cannabis session at a time.

 


Debra BorchardtDebra BorchardtJuly 20, 2018
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6min12460

Dispensary owners are looking for ways to reduce their labor costs and customers have no patience for waiting lines at their local dispensary. So, robotic vending machines seem to be a good solution for both.

Cannabis vending machines aren’t a new idea. Medbox began selling dispensary vending machines back in 2013 and 2014. The company though was charged with fraudulent revenue numbers and is no longer in business. M3Hub also makes a machine called Autospense. So far, the products haven’t had a big impact on the retail side, but that could chaneg as the boxes get more advanced.

This week, greenbox announced the launch of its intelligent kiosk. The company also revealed its first dispensary partners, including Sky Dispensaries and Erba Collective as well as shipping dates.

According to the company, greenbox is not like the others because it has an interactive touchscreen with the ability to vend multiple items during one transaction and is designed to streamline purchase flow by creating a fast and efficient customer experience. It has a temperature controlled safe and dispensary owners have the ability to track shelf life, identify trending products and service customers quickly. The company focuses on five core verticals: cannabis flower, edibles, extracts, CBD products and cannabis accessories — all of which dispensary owners control at their discretion.

“Automation is fueling almost every aspect of our world today, why should the cannabis industry be any different?” stated Zack Johnson, greenbox Robotics CEO and Founder. “From the moment we step out the door, our lives are simplified by the wonders of modern-day automation. Whether it’s placing a Starbucks mobile order, using driving assistance or using a voice command, consumers expect a fast, seamless and personalized experience. With greenbox, we are empowering dispensaries to automate the purchase flow and create a fast and private customer experience. By harnessing the power of today’s technology, greenbox users have the power at their fingertips to choose their own experience and dispensary owners can better allocate funds as well as manage their operation.”

The Apothecarium dispensary in San Francisco had a 45-minute wait one Saturday not long ago. Customers were stuck waiting in the lounge area thumbing through Dope Magazines and perusing promotional T-shirts. A kiosk would have been a welcome sight for a knowledgeable customer. Of course, a relatively new cannabis customer may prefer a human budtender to walk them through all the options and choices.

The greenbox is 6 feet tall and 4 feet wide and is equipped with a DIVI robotic arm that delivers a fantastic range of motion, speed, and precision to deliver just about any product that can fit through the shoot. With greenbox, customers can skip the line and expedite their in-store experience with an average shopping time of less than three minutes. Once credit cards are willing to be used for cannabis purchases greenbox says it can add that payment feature. 

Each greenbox unit is located within the dispensary past the point of security in order to meet regulatory requirements. Taking it a step further, the company can also deploy biometric facial recognition to verify users. Dispensary owners pay a minor installation fee and monthly upkeep fee, which allows them to hand select and stock the kiosks at their own discretion as well as recognize trends and make recommendations based on purchase data.

Who knows, the next time you go to a dispensary, you may just need to tap on the screen of a greenbox.

 



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