20 Hottest Cannabis Startups 2023

Woman in a field holding a cannabis leaf.

It is no secret that cannabis is an emerging market navigating a unique set of restrictions. American cannabis companies, for example, are making huge strides to create multi-state operations in legal states to shape the market as it develops. These top cannabis startups across the globe are paving the way for this newly legal industry to thrive through technology, science, and innovation.

Recommended: Learn how to launch your own company by reading our comprehensive guide on how to start a startup.

Top Cannabis Startups to Watch

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the top cannabis startups of 2023 that startup-lovers, investors, and aspiring entrepreneurs should follow.

Disclaimer: With so many exciting cannabis companies launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. Dutchie

  • Location: Bend, Oregon
  • Funding: $603 Million

Dutchie is an online cannabis delivery service that allows users to order cannabis products from their favorite dispensaries from their mobile device. Additionally, Dutchie’s business dashboard provides impactful resources for cannabis businesses to effectively manage their company.

2. Jushi Holdings

  • Location: Boca Raton, Florida
  • Funding: $389.4 Million

Jushi Holdings is a multi-state national cannabis brand that helps develop and run a variety of cannabis-related businesses from cultivation to retail locations across the United States.

3. Columbia Care (Acquired by Cresco Labs)

  • Location: New York City, New York
  • Funding: $408 Million

Columbia Care is one of the largest and most established medical marijuana companies in the United States, with locations across the country and an emphasis on patient care and service.

Explore more top startups in NYC.

4. Cresco Labs

  • Location: Chicago, Illinois
  • Funding: $522.5 Million

Cresco Labs is a multi-state cannabis retailer and producer that focuses primarily on the optimization of cannabis wholesale throughout its 37 locations nationwide.

Explore more top Chicago startups.

5. TerrAscend

  • Location: Mississauga, Ontario
  • Funding: $400.3 Million

TerrAscend is a retailer, cultivation, and processor of fine cannabis products across North America. Under the company, there are several brands available in various US states as well as Canada.

6. springbig

  • Location: Boca Raton, Florida
  • Funding: $32.7 Million

Springbig is a cannabis marketing platform for businesses within the industry. Through springbig’s platform, cannabis businesses can boost revenue, increase customer retention, and develop impactful marketing campaigns.

7. C3 Industries

  • Location: Ann Arbor, Michigan
  • Funding: $50 Million

Originally from Oregon, C3 Industries has developed a vertically integrated cannabis experience from cultivation to retail in both Oregon and Michigan, with future development in Massachusetts.

8. Ascend Wellness Holdings

  • Location: Waltham, Massachusetts
  • Funding: $509.2 Million

Ascend Wellness Holdings is a multi-state cannabis startup that boasts award-winning strains and locations in several states, including Illinois, Michigan, Massachusetts, New Jersey, and Ohio.

9. The Valens Company (Acquired by SNDL)

  • Location: Kelowna, British Columbia
  • Funding: $195.8 Million

The Valens Company is a Canada-based cannabis company that develops science-backed cannabis products aimed at transforming the industry to provide new products and formulations.

10. Jane Technologies

  • Location: Santa Cruz, California
  • Funding: $127 Million

Online cannabis, as well as other ecommerce brands, can use Jane Technologies’ services to improve sales through their easy-to-use dashboard, analytics services, and product content capabilities.

Feeling inspired? Learn how to launch your company with our guide on how to start a startup.

11. LeafLink

  • Location: New York City, New York
  • Funding: $479 Million

LeafLink is a business-to-business (B2B) platform that connects cannabis retailers, brands, and distributors seamlessly to provide a better customer experience and improve the cannabis supply chain overall.

12. Skymint Brands

  • Location: Ann Arbor, Michigan
  • Funding: $6.3 Million

Skymint is a Michigan-based cannabis startup with an umbrella of brands and farms that prioritize cultivating, processing, and selling the highest quality cannabis for consumers.

13. Holistic Industries

  • Location: Capitol Heights, Maryland
  • Funding: $156.1 Million

One of the largest multi-state operators in the US, Holistic Industries provides a vertically-integrated cannabis experience for customers as well as a positive work environment for their employees.

14. Demetrix

  • Location: Emeryville, California
  • Funding: $61 Million

Demetrix leverages innovative fermentation technology to produce cannabinoids for health and wellness products that are rare, effective, and sustainable.

15. Connected Cannabis Co.

  • Location: Sacramento, California
  • Funding: $55 Million

Connected Cannabis Co. is a California-based cannabis brand with products available in Sacramento, San Francisco, and Stockton.

16. New Frontier Data

  • Location: Washington D.C.
  • Funding: Undisclosed

New Frontier Data collects and catalogs impactful datasets for cannabis growers, retailers, and investors to make better, informed business decisions for their business.

17. Nature’s Medicines

  • Location: Phoenix, Arizona
  • Funding: $87.3 Million

Nature’s Medicines is a multi-state cannabis company that values the marriage between science and nature, utilizing both to create impactful cannabis products.

18. Wurk

  • Location: Denver, Colorado
  • Funding: $23.6 Million

Wurk is a cannabis tech company offering employee management software for cannabis companies to better manage payroll, timekeeping, and human resources.

Discover more top startups in Denver.

19. Stealth Monitoring

  • Location: Dallas, Texas
  • Funding: Undisclosed

Stealth Monitoring is a security company that offers security solutions tailored to cannabis companies to meet state requirements and provide optimal protection.

20. Aleafia Health

  • Location: Vaughan, Ontario
  • Funding: $92.6 Million

From the cultivation of medical marijuana to cannabis clinics, Aleafia Health is changing the way patients that utilize cannabis in treatment are able to find products that benefit them to be more efficient and impactful.

Recommended: Check out our full list of the top startups to watch in 2023!

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