Tantalus Labs exists to advance the frontier of cannabis through Sungrown cultivation. We are a team of scientists, designers, and engineers committed to cultivating world-class cannabis products in technical greenhouses.
Who started the company? Do you / team members have tech background?
Tantalus was founded by a handful of agronomists with experience in tech-driven greenhouse production of forestry seedlings, tomatoes, and bedding plants. We might have a bit of cannabis experience thrown in there too. The technology experience we draw from focuses on environmental monitoring, control, and automation; spanning hardware and software to give the modern grower better tools to control their outcomes.
How are you being financed?
Tantalus Labs is a private company funded through venture capital and private equity.
What do you think will be / is a big obstacle to overcome?
Evolving and strictly regulated legislation and policy are the largest barriers to entry in the Canadian cannabis industry. Companies must embrace regulation and meet an unprecedented quality assurance standard to participate in this nascent market. The task of developing operational processes that exceed regulations is sophisticated, but the payoff is having a consistently documented and iterating set of best practices from which to evolve our business.
How do you go about finding good developers / IT guys for your company?
Vancouver has a small but strong pool of technical talent. Much of our recruiting to date has been through the network of our team members and via word-of-mouth.
Who is your biggest competition?
As with businesses in many other nascent industries, our biggest competition is not the other companies currently in this space, but rather the statistical rate of startup failure. It is a monumental task to build a successful business, and our focus is to set up the principles and processes that will carry Tantalus Labs to sustained growth.
How are you intending on taking your company to million dollars in
revenues? In what markets?
The soon to be legal cannabis market in Canada is a multi-billion dollar industry. We are focused on creating the best cannabis products we can, and to share them with customers in ways that highlight our company values. If we can consistently provide products that surprise and delight our customers base, we will be able to increase our sales.
What is the big lesson you've learned (success or failure) with this
If there is a deep cause to why your business exists, beyond profit, you will be able to find the grit necessary to push through inevitable periods of struggle.