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Canadian Govt. Backs Cannabis Software Company With $800k: What This Means For The Global Industry

GrowerIQ, a prominent figure in the cannabis technology sector, has clinched CAD $1,080,000 ($803.323) in its recent funding round. The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), is the key investor. The move is set to bolster GrowerIQ’s already comprehensive cannabis tracking system, potentially positioning it at the forefront of the global industry.

Internationally, GrowerIQ’s platform is recognized as the underpinning of numerous regulated cannabis enterprises, bringing together scattered systems and transitioning operations into a digital realm. Their unique technology currently fuels cannabis facilities in over twelve countries, indicating the widespread trust and reliance on their solutions.

Financial backing for GrowerIQ isn’t new. A prior Seed funding round had already garnered more than anticipated support, signifying robust investor faith in the firm’s mission and technological prowess. The company had also inked a distinct contract with the Barbados government, empowering them to oversee the entirety of the island’s cannabis production.

Andrew Wilson, CEO of GrowerIQ, expressed his enthusiasm regarding the new injection of funds, stating, “This investment will allow us to further develop our cutting-edge technology and expand our global footprint. We are committed to providing cannabis producers with the tools they need to succeed in an increasingly competitive market.”

This latest financial venture not only underscores GrowerIQ’s ambitious vision for global cannabis tech leadership but also reinforces Canada’s commitment to innovation and strategic growth in burgeoning industries.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

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