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Green Bits, the "Square for cannabis," raises $17 million

Photo by Carlos Osorio/Toronto Star via Getty Images

Green Bits, a maker of point-of-sale software for cannabis retailers, has raised $17 million in Series A funding led by Tiger Global, with Snoop Dogg's Casa Verde Capital also participating.

Why it matters: Deep-pocketed investors like Tiger Global are being drawn into what would have once been unthinkable investments, as a growing number of U.S. states legalize both medical and recreational marijuana.