GrowerIQ, a prominent company in the cannabis technology sector, has raised CAD $1,080,000 ($803.323) in its latest funding round. The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), is the main investor. This investment will strengthen GrowerIQ’s comprehensive cannabis tracking system, potentially making it a leader in the global industry.
Internationally, GrowerIQ’s platform is widely recognized as the foundation of many regulated cannabis businesses. It brings together various systems and digitizes operations. Their unique technology currently supports cannabis facilities in over twelve countries, demonstrating the widespread trust and reliance on their solutions.
Financial support for GrowerIQ is not new. A previous Seed funding round had already received more support than expected, indicating strong investor confidence in the company’s mission and technological capabilities. The company has also signed a separate contract with the Barbados government, giving them oversight of the entire cannabis production on the island.
Andrew Wilson, CEO of GrowerIQ, expressed his excitement about the new funding, stating, “This investment will allow us to further develop our cutting-edge technology and expand our global presence. We are committed to providing cannabis producers with the necessary tools to succeed in an increasingly competitive market.”
This recent financial venture not only highlights GrowerIQ’s ambitious vision for global cannabis tech leadership but also showcases Canada’s dedication to innovation and strategic growth in emerging industries.
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