Snoop Dogg-backed tech firm powering pot industry valued at $3.75 billion

Dutchie, based in Oregon, United States is growing as new states legalize recreational cannabis or expand their existing offerings

Dutchie, a technology platform for cannabis dispensaries, has raised $350 million in funding, bringing its valuation to $3.75 billion, according to a company statement Thursday. 

The new round of funding more than doubles the value of the company and comes seven months after a $200 million round that valued it at $1.7 billion. Dutchie, based in Bend, Oregon, is growing as new states legalize recreational cannabis or expand their existing offerings. 

The series D financing was led by D1 Capital Partners. Other participants included Tiger Global, DFJ Growth, Dragoneer, Thrive Capital and Casa Verde Capital, which is backed by Calvin