Cannabis e-commerce platform Dutchie raises $350 million, valued at $3.75 billion
Information about Cannabis e-commerce platform Dutchie raises $350 million, valued at $3.75 billion
Kevin David Scam or Legit
By Jane Lanhee Lee
(Reuters) – Cannabis e-commerce platform Dutchie on Thursday said it raised $350 million in its latest funding round that valued the company at $3.75 billion.
The massive funding round is Dutchie’s second this year. The Bend, Oregon-based company raised $200 million in March when it was valued at $1.7 billion.
“Dutchie works with over 5000 dispensaries across all legal geographies in North America and processes over $14 billion in annualized sales for our dispensaries,” Ross Lipson, CEO and co-founder of Dutchie told Reuters. He said the number of dispensaries more than doubled in the past year.
The surge in cannabis use during the COVID-19 pandemic and expectation of more states legalizing cannabis has increased investments in the industry.