Photo Source: Tradiv
According to a report by www.governing.com, 23 states and the District of Columbia currently have laws legalizing marijuana in some form. With more states lobbying toward marijuana legalization, numerous cannabis tech startups have been popping up around the United States. Now, joining in the cannabis tech industry trend, is a new online marketplace for marijuana wholesalers: Tradiv.
Tradiv is like Amazon for marijuana wholesalers and distributors. According to its listing on the AngelList, Tradiv, “…has created the most advanced B2B marketplace for the wholesale cannabis industry. Nicknamed the Ali-Baba of Cannabis, Tradiv brings to the cannabis industry the most sophisticated e-commerce tools, methodologies and technology, all while staying aligned to state regulatory systems to ensure compliance across all business types and customers.”
Learn more about how Tradiv works here.
Tradiv is based in Boulder, Colo. and within the past year has been able to raise $1 million in capital investments to launch its online marketplace website. The cannabis tech company spent months speaking with cannabis business owners to see if there was any need or interest in bringing the wholesale buying process online.
In an article by Xconomy, Lisa Buffo, Tradiv’s chief marketing officer, says, “The answer was overwhelmingly yes. Business owners are spending hours making phone calls or sending text messages to various vendors or suppliers trying to move product. Because the industry is so young, no one has built a software solution quite like Tradiv.”
Tradiv was able to gain investment backing quickly with the help of accelerator program Canopy Boulder. Canopy Boulder provides cannabis-related startups with $20,000 capital, a 12-week mentor-driven bootcamp and expert knowledge of the industry for a 9.5 percent equity stake.
With the capital from Canopy Boulder and other investors, Tradiv was able to launch a commercial website earlier last month. Since its launching, Tradiv has signed up one to three businesses each day. Tradiv anticipates that the site will have between 80 to 100 businesses signed up by early next year.
More about Tradiv: The company started as an idea in 2014 in southern California and with the help of Canopy Boulder was brought into Colorado’s regulated market. Tradiv strives to make wholesale cannabis trade efficient, easy and secure. The online marketplace connects cultivators, infused product manufacturers and dispensaries. Tradiv is currently only accepting licensed businesses in Colorado, but hopes to expand into Oregon, Washington, Nevada, Arizona and regulated municipalities in California soon.
To learn more about Tradiv, visit its website. You must be 21-years-old or older to enter the site.
To read Xconomy’s full article on Tradiv’s success click here.