Cannabis Tech Giant ‘Dutchie’ Raises $350 Million And Plans To Expand In Different Markets

Announced Thursday, the Oregan-based technology company Dutchie raised $350 million in a Series D funding round. During their launch seven months ago, Dutchie raised $200 million, and since then, the company’s valuation has doubled to $3.75 billion.

Dutchie creates technology to help expedite legal cannabis orders; this includes e-commerce, point of sale, and easy payment solutions, which have helped make $14 billion in sales at 5,000 dispensaries in North America.

“Cannabis presents opportunities for job creation, critical reforms, and opens up new revenues to support state and local economies and communities,” said Ross Lipson, co-founder and CEO. “By powering cannabis commerce and streamlining operations, we are accelerating the positive changes that cannabis is bringing to the world while normalizing the industry.”

Lipson and his Brother Zach founded Dutchie in 2017 and have since raised $603 million to date while doubling their employees to over 500 across 40 U.S. states and Canada. Their platform allows customers to search online for local dispensaries, look through products, and place orders for either pickup or delivery.

The recent funds raised will go towards the company’s expansion to add new employees and delve into other markets outside of North America with new and sought-after products.