TrackLoop enters $5.1bn California cannabis market

Vancouver, British Columbia: TrackLoop Analytics is selling its cold chain tracking and monitoring system to the recreational and medical cannabis industry.

TrackLoop combines cold-chain monitoring, GPS tracking, and equipment health monitoring, with 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,” the company says.

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 US represents a huge opportunity for TrackLoop’s fully integrated offering,” Zayn Kalyan, chief technology officer, TrackLoop, said.

“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,” he said.

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. 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 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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