This particular rap is not about a new song or album from the legendary Snoop Dogg, but instead it is about business. It is clear now that marijuana lab-testing is essential as it turns out that farmers will use lots of chemicals on their cannabis crops and all sorts of things like to grow on the plant as well. Snoop is trying to take advantage of a niche that needs to be filled when California’s new recreational marijuana law goes live next year.
Snoop’s company, Casa Verde, just invested $1 million into a marijuana lab-testing company, Cannalysis. Their intentions are to dominate the lab-testing market in California but it is not likely to be an easy road. Does a lab-testing company seem like the type of investment you would expect Snoop Dogg to make?
Snoop Dogg’s venture capital firm, Casa Verde, appears to be all in on the California “Green Rush,” as the group has begun funding a cannabis lab-testing company that expects to be a major player when recreational weed is fully legalized in the state this January.
A Bold Venture
Casa Verde invested $1 million dollars into Cannalysis, a cannabis lab that tests medical and recreational cannabis products for cultivators, manufacturers and dispensaries. Their testing services include analytics on potency, terpenes, residual solvents microbial and unwanted chemical residues. The company even offers their clients a WeedMaps-integrated online platform that will post their desired test results, as opposed to the traditional over-the-phone process.
Cannalysis CEO Brian Lannon said in a statement to Business Insider that he believes the partnership with Casa Verde will help his company grow to greater heights.
“We are at an inflection point for this industry and we are ready to expand,” Lannon said. “Having a marquee investor and strategic partner like Casa Verde will be instrumental in helping us achieve our growth objectives.”
Karan Wadhera, one of the managing partners at Casa Verde, lauded Cannalysis’ business model and referred to the company as “one of the leading lab platforms,” in California.
“This approach has also positioned Cannalysis to quickly scale and establish JV partners around the country,” Wadhera said.
Final Hit: Snoop Dogg Joins The Cannabis Lab-Testing Game
With recreational weed set to be legalized in California on January 1, 2018, Cannalysis can carve out a large role in the state’s burgeoning weed market. The state’s Bureau of Cannabis Control already requires all medicinal cannabis to be lab-tested for specific levels of pesticides and other harmful chemicals. Ultimately, the organization will instill a similar mandate for recreational pot upon its impending legalization.
Pesticides have been an ongoing issue in California’s legal weed market. While pesticides can be integral in both the indoor and outdoor growth process, most in the industry agree they need to be regulated.