Arcview insurance founder helps fund start-ups

Company to collaborate in helping eight new support businesses

Technology

Jul 31, 2017 Share

Cannabis-focused venture fund Canopy has launched its Fall 2017 accelerator class, with eight cannabis start-ups participating.

Arcview Group – founder of marijuana business insurance provider Cannasure Insurance Services – has been a partner of the venture fund since 2015.

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The eight participating start-ups in the 16-week accelerator program will receive $30,000 in seed funding, with a chance to take $50,000 more in funding later in the program.

“The program is designed to spur business traction and prepare the companies to raise outside capital, while providing access to outside venture firms, key figures within the local entrepreneurial community, and exposure to early adopters and potential customers,” a release said.

Following weeks of pitch practice and business model refinement, each “graduate” of the program will present their business to potential investors on Demo Day.

“The cannabis industry in Colorado has shifted from just keeping up with demand to competing and stealing market share from one another,” said Canopy co-founder and managing director Patrick Rea. “The result is increased interest in, and demand for, the cannabis technology companies that Canopy is investing in. We expect this trend to continue nationwide as state markets mature.”

The eight companies included in the fall cohort are:

Virtugro is a Colorado-based team developing automated grow tech solutions for medium to large-scale cultivators. It was founded by Mark Stratton of Silverthorne, CO and Russ Baker of Black Hawk, CO.
My THC Guide is developing chatbot solutions for the cannabis industry, founded by Ebony Costain of Appamattox, VA and Jameson Bennett of Louisville, KY.
Cannabis Quality Group is Cloud-based integrated quality management system designed for licensed businesses to have transparency in their supply chains. It was founded by Donavan Bennett of Roswell, Georgia and Joe Novalany of Edison, New Jersey.
Serene encourages an outdoor, active lifestyle by leveraging technology. It was founded by Ed Mcllory and Adam Bray, of London, England.
Redfield Proctor is a start-up in stealth mode focused on efficiency in the cannabis industry, founded by Stephen Martin of Quechee, Vermont.
Dispenserly manages, monitors, and mines cannabis industry reviews to identify new opportunities and trends, founded by Matt Cooke of Marion, OH.
DeepGreen is an optical recognition technology that identifies plant characteristics using AI and machine vision technology. It was founded by an international team hailing from Germany and France - Maxime Clauss and Maximillian Unfried.
GreenScreens manages a network of digital flat screens in dispensaries across the country that rotate menu information and advertising to inform and target customers in the store. It was founded by Ryan Sterling, a native of Turner, ME, and Martin DeFrance of Jackson, MS.