[NEWS] Flowhub raises $23 million for its retail management software for cannabis dispensaries – Loganspace

As hashish dispensaries flourish across the country alongside the high-tail to legalize medicinal and recreational marijuana expend, inquire for tools to preserve up an eye on the specificities of the weed retail exchange continues to spice up.

Having a look to take care of that need,Flowhub, a hashish retail management instrument vendor, has raised $23 million from a consortium of traders in conjunction with e.ventures, Evolv Ventures (the Kraft Heinz-backed endeavor capital fund) and Poseidon. 

The correct hashish market is expected to high $66 billion over the following five years, essentially based mostly on estimates fromSubstantial Look Be taught, and entrepreneurs searching to derive into the extremely regulated industry are flocking to Flowhub’s suite of dispensary management services.

No longer handiest does the corporate’s instrument take care of compliance concerns, essentially based mostly on chief govt officer Kyle Sherman, however it indubitably furthermore integrates with corporations bask inDutchiefor online ordering to facilitate in-store purchases and adds integrations withLeafBuyerandLeaflyto present extra knowledge to ability outlets.

The corporate furthermore updated its instrument to encompass the “Stash” app, a mobile stock management plot, and a cashier app that integrates with iPads or diverse tablets to toughen level-of-sale capabilities.

“What we are experiencing perfect now might well perchance well be an stay to hashish prohibition andFlowhubis on the entrance lines of this paddle,” acknowledged Sherman, in an announcement. “Every staunch transaction completed with the Flowhub retail platform is a sure step forward, and we are dedicated to serving to our customers form thriving hashish companies. With this funding, we’re going to be in a position to proceed to automate the hashish present chain, retail and reporting processes and carry to market expertise choices that have to now not handiest shaping the hashish retail exchange, however furthermore driving forward the approach forward for legalization and de-stigmatization.”

For traders bask in Emily Paxhia, a managing director at Poseidon, the choice to assist a company serving to to automate compliance within the regulated marijuana industry was too tempting to walk up.

“The compliance and regulation aspects derive this a obvious industry and Flowhub is among the main hashish tech corporations that’s taking a meticulous and strategic potential,” Paxhia acknowledged in an announcement. “We seen the potential for Flowhub’s expertise and mission early on and we’re overjoyed to proceed to enhance them in delivering the hashish retail ride of the future.”