Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
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.