TrackLoop Enters $5.1 Billion California Cannabis Market

Published: November 28, 2018

TrackLoop Enters $5.1 Billion California Cannabis Market

TrackLoop Analytics Corp. launched its solution for the recreational and medical cannabis industry, its cannabis solution enables licensed producers, logistics providers, and leasing companies to fully ensure the quality of cannabis products from seed to sale.

Combining cold-chain (refrigerated supply chain) monitoring, GPS tracking, and equipment health monitoring, TrackLoop’s solution provides real-time data on all aspects of the supply chain including production, transport and retail. The system is fully integrated and compliant with Metrc, the regulatory and compliance system deployed in California, Colorado, Ohio, Alaska, D.C., Oregon, Nevada, Maryland, Michigan and Montana. TrackLoop is currently in the process of becoming a certified Metrc vendor and data provider in most of these jurisdictions.

“The regulated cannabis market in the U.S. represents a huge opportunity for TrackLoop’s fully integrated offering. Licensed producers and logistics providers are under increasing pressure from regulators to provide sufficient supply chain data. Furthermore, as customers demand a better-quality product, and competition increases, producers and retailers need to oversee every part of the supply chain, including cold chain monitoring, to ensure they can deliver the best product possible,” said Zayn Kalyan, CTO of TrackLoop.

The California market represents nearly a third of the entire North American cannabis market. Estimates suggest that following legalization of recreational cannabis, sales in California will reach $3.7 billion by the end of 2018, and $5.1 billion by the end of 2019.[1] Analysts with Cowen & Co. believe that entire American cannabis market could reach $26 billion by 2026, with California accounting for about $25 billion of that market.

TrackLoop has an established sales and marketing presence in California via the company’s recent acquisition of Chaintrack Technologies. The company also has a strong partnership with Volta Air, which has a large footprint in California and relationships with the California Air and Resources Board (CARB). The partnership with Volta Air ensures the company has access to a large channel for sales and distribution of a turn-key solution with vertically integrated hardware/software capabilities embedded.

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