A pair of cannabis businesses focused on the technology sector raised a combined $21.5 million in investment capital.
Florida-based Springbig said Tuesday it raised $11.5 million in a Series B round. The company’s marketing platform is used by 1,400 marijuana retailers across the country, according to a news release.
Chicago-based Fyllo on Wednesday announced the completion a Series A2 round that brought in $10 million, bringing its investment total to $26 million. Fyllo in January acquired cannabis-regulation tracking firm CannaRegs for $10 million.
Both companies said the influx of capital would be used to further expand their marijuana industry footprints, while Fyllo also intends to expand into “other highly regulated industries.”
Written by John Schroyer.
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Marijuana Business Daily