Canopy Rivers Inc. is dedicated to helping cannabis businesses succeed, and supports 18 different entities working in the space. The venture capital firm has a solid track record of providing financial and other assistance to companies that are disrupting the cannabis ecosystem, and recently announced some advancements made by a few of the operators it backs.
With the looming presidential elections in the US, there are predictions that the cannabis industry is ready to explode even more, and Canopy Rivers will be able to take advantage of the agreements it currently has in place as a result of any growth.
As announced last week, TerrAscend began sales out of a newly expanded cultivation facility in San Francisco, CA. The property, which now spans 20,000 square feet, is going to be able to significantly improve its supply of cannabis products developed by State Flower, which TerrAscend acquired last year. The products are expected to be sold on California’s wholesale market, as well as through TerrAscend’s own Apothecarium dispensaries across the country.
High Beauty, Inc, another company supported by Canopy Rivers, has now introduced a new line of products that combine aloe with hemp seed oil, organic plant oil and other proven wellness compounds. The line, canBE, is being sold on Walmart.com, as well as in 1,760 CVS locations. Starting next year, per an agreement that was recently signed, High Beauty will also begin delivery of canBE products for resale through Kohls retail stores. High Beauty additionally offers its own branded products through 600 stores located in the US, Canada and Europe.
One of the more promising developments for the entire cannabis industry is Headset Insights Pulse (HIP), created by Canopy Rivers-backed Headset, Inc. It is now live in Massachusetts, giving cannabis companies in the state the ability to compare markets and explore industry data to make smarter business decisions. Given the solid and extensive foundation of the cannabis industry in Massachusetts, HIP can also allow entities in other legal states to also improve their operations. In addition to Massachusetts, HIP is also available in California, Colorado, Michigan, Nevada, Oregon and Washington in the US, and Alberta and British Columbia in Canada.