Apr 18, 2018

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.

How it works: Green Bits' software combines tracking sales with tracking inventory, a regulatory requirement for retailers. The four year-old company currently processes more than $2.2 billion in annual cannabis sales.

It hopes to soon add payment options beyond cash, like debit, credit, and gift cards, although much of this will depend on processor and bank willingness to remove current prohibitions.

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Axios
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Illustration: Sarah Grillo/Axios

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Scoop: How the White House is trying to trap leakers

Illustration: Sarah Grillo/Axios

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Why it matters: This hunt for leakers has put some White House staffers on edge, with multiple officials telling Axios that Meadows has been unusually vocal about his tactics. So far, he's caught only one person, for a minor leak.

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11 GOP congressional nominees support QAnon conspiracy

Lauren Boebert posing in her restaurant in Rifle, Colorado, on April 24. Photo: Emily Kask/AFP

At least 11 Republican congressional nominees have publicly supported or defended the QAnon conspiracy theory movement or some of its tenets — and more aligned with the movement may still find a way onto ballots this year.

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