A brand-new CBS poll out this week shows support for marijuana legalization is at an all-time high.
A full 61% of Americans now support overall legalization of cannabis. An impressive 88% are in favor of cannabis for medical uses.
We’ve come a long way since the peak of anti-pot propaganda. That same poll showed just 27% in favor of marijuana legalization back in 1979.
To celebrate this ongoing shift, we’re going to look at two cannabis-related startups. Both are raising money on SeedInvest.com.
Due to banking restrictions, neither of these startups directly sells marijuana. But they certainly qualify as “pot startups.”
Let’s get started…
Cannabis Startup No. 1: HelloMD
Valuation: $15 million (pre-money)
Investment page
HelloMD is a multifaceted marijuana startup operating out of California. For now, much of its revenue is derived from “telehealth” operations. In essence, it connects patients with doctors who prescribe marijuana.
These consults are made via video chat, and they’ve proven to be good business, having helped HelloMD generate $1.9 million in revenue last year.
However, much will change for HelloMD soon…
California is on the verge of legalizing recreational marijuana, which means people won’t need a prescription to buy cannabis products.
So HelloMD is pivoting its business (at least, the California part) and now aims to become the “Amazon of Cannabis.” The startup has already lined up 400 retail partners to build a large marketplace of retail products.
It’s an ambitious goal, but it seems to be making good progress. It’s building a large database of cannabis-related medical information, which will still be of interest even after “patients” don’t need a prescription.
The company’s team has guided it skillfully so far, and HelloMD has a large list of customers to help get its new venture off the ground. It will be interesting to see if it can pull off this pivot and become one of the largest online cannabis shopping destinations.
