Cura Cannabis Solutions is dominating the vaporizer market. Facebook/selectstrains
Cura Cannabis Solutions, maker of the Select Oil vape cartridges, wants to be the first “unicorn” with a $1 billion valuation in the US marijuana industry. The company raised at a $400 million valuation in 2017. While other cannabis brands tout being vertically integrated, Cura is focused on building a singular product: cannabis oil.
Cura Cannabis Solutions, a startup that makes marijuana oil for vape cartridges, wants to be the first US company in the cannabis industry to achieve elusive “unicorn” status with a billion dollar valuation.
“We’ve had a lot of nicknames. ‘Unicorn’ is definitely a new one,” said Cura president and cofounder Cameron Forni.
Cura is currently raising funding at a $400 million valuation, which represents a 1,300% increase from its valuation in 2016 and puts it ahead of the combined market value of the two biggest publicly traded marijuana companies in the US: Terra Tech and Kush Bottles.
Cameron Forni is cofounder and president of Cura Cannabis Solutions. Cura Cannabis Solutions
The Oregon-based company closed the year with $40.5 million in sales, and it predicts revenue will rise to $120 million in 2018 as California’s recreational marijuana market comes online.
Sales of recreational marijuana began in California on January 1, and the state market is expected to haul $3.7 billion in revenue this year as dispensaries pop up in new cities and counties. Cura, which operated in California’s medical marijuana market, is positioned to piggyback on the market’s success because it already has distribution there.
The vaping market is also exploding. In California, vaporizers account for 32% of sales on Eaze, a marijuana delivery service. In 2017, 72% of millennial Eaze customers bought a vaporizer.
Cura’s colossal growth stems from a decision it made early on to