Today in cannabis
As the cannabis community celebrated its national holiday over the weekend, PAX Labs was quietly closing on its latest funding round totaling a deliberate $420 million.
What started in 2005 as a master’s thesis by two Stanford Design Program students has grown into the global leader of vaporization technology and is now worth $1.7 billion, confirmed by a PAX Labs spokesperson on April 20.
Yes, they raised $420M on 4/20. Can't make this stuff up.
Pax has basically become the Juul of the cannabis world. PAX Labs does not manufacture, produce or sell cannabis products involving the plant itself. Instead, it pioneered a vaporizer aimed to “make smoking obsolete” when the company was first founded in 2007 by James Monsees and Adam Bowen.