Few venture capitalist companies have reached the level of success that Benchmark Capital has. One of the newest companies that Benchmark invested in described their mission as a company by saying that said mission “is to back great entrepreneurs who are changing the world”.

 

Their investments include some of the the most influential companies in social media, including companies such as Twitter and Snapchat, two apps used by a large spectrum of people. Even the famous and wonderfully useful ride-sharing app Uber is a company under the umbrella of Benchmark Capital’s very successful investments.

 

As expected in the exciting world of venture capitalism, Benchmark has invested in a new business. However, this specific business isn’t social media-related nor is it the newest ride-sharing app. Instead, it’s something totally different from anything social media-based. It’s a field that, with the ever-changing state laws, is becoming slowly more and more legal.

 

Cannabis and cannabis-related products, a rapidly growing industry, has investors from all types of business making large investments in the newly legal industry. Benchmark, a pioneer in venture capitalism for social media, has invested $8 million in Hound Labs, which is a startup that is producing a sobriety-detecting device that will inform drivers as well as law enforcement of when the driver is too intoxicated by cannabis.

 

While the legalization of marijuana becoming a reality in many parts of the country, a worry among some that still remains is the possibility of someone ingesting cannabis then getting behind the wheel while stoned. Benchmark, along with Hound Labs, is attempting to calm that fear of stoned drivers.

 

(Nanalyze)

According to Hound Labs’ website, the marijuana breathalyzer has the ability to, quite like an alcohol breathalyzer, capture the breath of a supposedly intoxicated person for future analysis in an attempt to protect “drivers, employees, law enforcement, and employers from wrongful prosecution or job termination”. This device could potentially be incredibly helpful for occupations that operate heavy machinery frequently or operators of public transportation whenever there is a work-related accident or injury.

 

This intelligent business move truly shows how smart and aware in terms of current events that Benchmark is. With marijuana becoming more legalized, there could be an increase in users and this practical device by Hound Labs could possibly be useful in possible accidents caused by marijuana. Devices like this that help individuals determine whether or not they’re able to drive safely could very well be an excellent tool by showing to consume marijuana safely and not driving while stoned and potentially causing an accident.     

 

Along with the investments made by Benchmark, venture capitalists are also investing in apps that detect exactly which given strain a type of marijuana is and many other useful types of marijuana-based technology.

 

Do you follow venture capitalism? If so, I’d love to learn more. Tweet me at @CaptainKasoff to talk!