GrowerIQ, a Canadian cannabis technology company, recently announced that it has received more
than $1 million in funding from the Government of Canada through
the Federal Economic Development Agency for Southern Ontario (FedDev
Ontario). GrowerIQ is a leading cannabis technology company
that sells enterprise resource planning (ERP) software to cannabis
producers. The software helps cannabis growers manage their
business and meet regulatory requirements.
GrowerIQ was founded in 2018 and sells
its software to licensed cannabis producers. Last year, GrowerIQ closed an
oversubscribed $3 million seed round, co-led by Golden Section
and MaRS IAF. Today, GrowerIQ serves facilities in 15 countries,
with its presence growing stronger in Canada.
The Government of Canada's funding was provided via the Business
Scale-up and Productivity program, whose purpose is to
accelerate the growth of businesses and assist with entry into new
markets. The Canadian government's support of GrowerIQ comes
just months after Barbados
selected the company to manage tracking and reporting of all
cannabis production on the island for the next five years.
The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.