October 5, 2023
GrowerIQ, a Canadian cannabis technology company, recently announced that it has received more than $1 million in funding from the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). GrowerIQ is a leading cannabis technology company that sells enterprise resource planning (ERP) software to cannabis producers. The software helps cannabis growers manage their business and meet regulatory requirements.
GrowerIQ was founded in 2018 and sells its software to licensed cannabis producers. Last year, GrowerIQ closed an oversubscribed $3 million seed round, co-led by Golden Section and MaRS IAF. Today, GrowerIQ serves facilities in 15 countries, with its presence growing stronger in Canada.
The Government of Canada’s funding was provided via the Business Scale-up and Productivity program, whose purpose is to accelerate the growth of businesses and assist with entry into new markets. The Canadian government’s support of GrowerIQ comes just months after Barbados selected the company to manage tracking and reporting of all cannabis production on the island for the next five years.
Author: Olivia Moon, 2023/2024 Articling Student-at-Law