Cannabis Cash Flows Into U.S. With Canopy Venture Arm Investment
- Industry data provider Headset gets backing from investors
- Series A round values company at about $30 million, CEO says
Packages of marijuana are seen on shelf before shipment at the Canopy Growth Corp. facility in Smith Falls, Ontario, Canada.
Photographer: Chris Roussakis/BloombergThis article is for subscribers only.
Canadian marijuana money is finding its way into the U.S.
Canopy Rivers Inc., the venture capital arm of the world’s most valuable cannabis company, Canopy Growth Corp., is investing more than $3 million in Headset Inc., a Seattle-based firm that provides data on the marijuana industry and tracks sales numbers in markets like California and Colorado. The cash infusion is part of a $12.1 million Series A round that values Headset at about $30 million, according to the startup’s co-founder and Chief Executive Officer Cy Scott.