Snoop Dogg is once again doubling down and betting it all on the future of the cannabis industry. Cannabis-focused venture capital firm Casa Verde Capital, which is in a partnership with Snoop Dogg, recently announced a $1 million seed round into Cannalysis, a cannabis lab-testing facility.
Cannalysis offers product testing for medical and recreational cannabis. The lab tests for potency, terpene content, residual solvents, microbials and chemical residues. Using tests, common and problematic fungicides like myclobutanil can be detected. The company has an online portal for dispensaries and offer services that can seamlessly integrate with WeedMaps.
Recreational cannabis sales are expected to begin in California on January 1, 2018. “We are at an inflection point for this industry and we are ready to expand,” Cannalysis CEO Brian Lannon told Business Insider. “Having a marquee investor and strategic partner like Casa Verde will be instrumental in helping us achieve our growth objectives.”
The Bureau of Cannabis Control requires that all medical cannabis to be tested for pesticides and contaminants and recreational cannabis will have to be cleared by testing labs once recreational cannabis sales begin. In October 2016, a report from Steep Hill testing labs that 84 percent of California’s cannabis wasn’t fit for human consumption.
Karan Wadhera is the managing partner at Casa Verde, and has high hopes for the partnership. “This approach has also positioned Cannalysis to quickly scale and establish JV partners around the country,” Wadhera said.
Beyond lab testing, Snoop Dogg has invested a great deal of money into the cannabis industry over the last two years. In 2015, he launched the media website Merry Jane, which has since partnered with Vice Media. He also launched Leafs by Snoop, his line of luxury cannabis products. Martha & Snoop’s Potluck Dinner Party is unofficially cannabis-centric with frequent references on the show. Snoop’s new game show The Joker’s Wild offers a $420 dollar category.