Venture capitalist replaces BDS Analytics founder on board

BOULDER — Cannabis-focused venture capitalist Pete Karabas, a founding partner of KEY Investment Partners LLC, will take over as chairman […]
Source: BizWest

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[Link] November cannabis sales up month-over-month

BOULDER — Cannabis consumer sales in Colorado, Arizona, California, Oregon and Washington totaled $538.7 million in November, up slightly from the prior month, according to the latest Cannabis Retail Price Index and Consumer Sales Report from BDS Analytics. The Cannabis Retail Price Index — which uses January 2018 sales as its baseline at 100 — found that November had an index of 101.25 across all market segments. It was up 1.3 percent from January and up 2.5 percent from October. Compared with October, all major product categories recorded higher-than-average retail prices. Through its system, BDS is creating index pricing in all product categories. The data provides significant insights as flower becomes a commodity product and growth in cannabis is being driven by branded products. In November, flowers were the biggest selling product in Colorado, Arizona, California and Oregon (Washington topline sales are calculated separately and added to the breakdown of the other states to create the monthly total). Flower accounted for $179.2 million in consumer sales for November. Edibles and topicals, meanwhile, are seeing steady growth, with $76.1 million and $8 million in sales respectively. “Since the beginning of the year, edibles have seen rising prices thanks to the CBD trend,” BDS said in its executive summary of the data. “In January 2018, edibles containing CBD made up 17 percent of edible sales and by November that percentage increased to 25 percent. CBD is a functional ingredient that on average commands a 66 percent premium above non-CBD containing edibles.” In 2018, from January to November, there has been nearly $5.7 billion of cannabis products sold across Colorado, Arizona, California, Oregon and Washington.

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[Link] CanopyBoulder to host demo day, Jumpstart Conference

BOULDER — CanopyBoulder, an accelerator for entrepreneurs in the cannabis industry, is hosting a public demo day and its Jumpstart Conference. Canopy will host its Jumpstart Conference from 4:30 to 7:25 p.m. on Jan. 15 at Galvanize in Boulder. The conference will feature a speaker and panels covering the state of the market, opportunities and what it takes to launch a cannabis startup. Dominique Mendiola, director of marijuana coordination for the state of Colorado, will deliver the keynote address. One panel will feature industry professionals discussing ways entrepreneurs can improve upon pain points they’re seeing in the cannabis industry. The second panel will feature cannabis entrepreneurs themselves speaking about best practices for starting a business in this field. “We have some fantastic speakers,” Patrick Rea, CEO and co-founder of CanopyBoulder, told BizWest. “If I were an entrepreneur or an investor, I would want to show up to soak in what’s really going on in the cannabis industry. Not just what’s in headlines, press releases or PR pushes but get the real scoop and inside story on how the industry is working.” Immediately after the conference will be Canopy’s public demo day, where Canopy’s current cohort of cannabis-related startups will pitch their ideas to the public. Those companies include: Abaca, which provides cannabis businesses with compliant bank accounts, electronic payments and other financial services. The company is based in Little Rock, Ark. Anna, built by FrostCorp, is the first AI-powered cannabis dispensary kiosk. FrostCorp is a Boston-based company. Azara Solutions Inc. of Boulder, a provider of web tools to streamline operations, hold staff accountable and permeate regulations Bello by Designed Technology, which cleans and simplifies the cannabis consumption process in order to improve the public perception of cannabis consumers. The company is working on an automated vaporizer. Buddle, a Boulder-based provider of automated legal services, legal documents and law experts in order to empower cannabis businesses to navigate the industry’s regulatory environment. Demeter, based in Boulder, which streamlines the communication between brands and influencers. The company’s registered name is Defining the Box Inc. Enabled Label, an Edmonton, Alberta-based company that offers origin certification for supply chains and uses technology to provide batch-level origin and quality verification in real-time. Green Genomix, which uses DNA-testing to make personalized cannabis recommendations. The company is based in Boulder. The Grove, a curated and cannabis consumption space that aims to be a social cannabis collective in Denver. L.A. Cannabis News, a media company dedicated to localized cannabis news, events and jobs. “There’s more investor interest in cannabis than ever,” Rea said, who added that the accelerator would be hosting several investor-only demos in Denver, San Francisco, Boulder and Los Angeles. “The timing is very good for these teams. We are seeing larger interest than ever before in our investors preview events and Demo Day.”

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