New Cannabis Research Firm has $1.5m in the Pot

Colorado-based cannabis industry data and insight provider BDS Analytics has officially launched with a $1.5m round of investment funding.

BDS was set up earlier this year by former McKinsey consultant Roy Bingham, and Liz Stahura, who spent the past decade at NPD Group-owned retail sales tracking and consumer research business Leisure Trends. The pair decided to launch the firm after noting that the emerging legal cannabis industry lacked point-of-sale data, market research and consumer behavior data, to drive everything from new product developments to inventory and branding decisions. Stahura says that as the industry gets more complex and competitive, entrepreneurs need better data to make smarter decisions.

New funding comes from both angel and institutional investors, and Bingham comments: 'We're pleased and grateful for this response from investors. With an experienced team and a strong platform, we're eager to provide data and insights to cannabis industry companies who want to succeed'.

Web site: www.bdsanalytics.com .