Cannasoft Enterprises, known by the ticker symbol BCAN on NASDAQ, caught investors off guard with its recent announcement. The Israeli cannabis company declared a sudden halt in the construction of its medical cannabis facility. The reason? A bold, unexpected pivot towards the burgeoning Femtech sector.
Last month, Cannasoft successfully raised funds, only to take a U-turn on its business blueprint. The decision to embrace Femtech was largely fueled by adverse tides rocking the global medical cannabis industry. Adding to the turmoil were security concerns, sparked by the grim backdrop of conflict near the Gaza border. The company now sets its sights on diving into the Femtech realm, with a promise to reassess this bold move come July 2024.
Looking Forward: Femtech And Cannabis
Cannasoft, renowned for its cutting-edge management software tailored for the cannabis domain, now steers towards a new horizon. Known for its proprietary CRM software, the company has also made a mark in manufacturing with the innovative EZ-G Device, leveraging the power of CBD Oil. Interestingly, the EZ-G Device, doubling as a sex toy, is eyeing large-scale production in China by early 2024.
The optics of Cannasoft’s strategic shift extend beyond titles and sectors. The dynamics at play reflect a daring foray into a domain that has seen exponential growth in recent decades. As the economic tides turn, the company aims to navigate these uncharted waters by anchoring itself firmly in the Femtech landscape.
“Femtech encapsulates reproductive health, pregnancy, lactation care, pelvic and uterine health, and more,” the company unveiled in a recent press release. Not just a sector pivot, this move underpins the company’s acknowledgment of the substantial influence wielded by women in the healthcare ecosystem. Representing half of healthcare consumers globally, women dominate healthcare decisions at home, with a staggering 90% taking the lead. Furthermore, women exhibit a 75% higher likelihood than men to harness digital healthcare resources.
