According to a recent study by New Frontier Data, 43% of the U.S. adult population will reside in the 18 states that have or are expected to have legalized recreational marijuana by 2022.
To keep up with the rising demand, the cannabis industry has turned to technology solutions providers like Dutchie and Weedmaps to handle the estimated $40 billion of transactions expected to flood the market by 2025.
Those expected sales cannot occur without stocked shelves at recreational distributors, and with the company's recent raise, the wholesale marketplace platform Nabis aims to revolutionize the way stores buy and track inventory.
Last week, the largest licensed cannabis wholesale company in California announced it has raised a $23 million Series B led by Liquid 2 Ventures, FJ Labs and Stanley Tang, co-founder of DoorDash (NYSE: DASH). Silverleaf Venture Partners and Artemis Growth Partners also participated in the round to support Nabis' network of fulfillment centers, …