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Vaping Startup Pax Labs Raises $420M In Funding

by fortune.com posted 4months ago 16 views
On deals and dealmakers. : Pax Labs, a San Francisco-based cannabis vape maker, confirmed that it raised $420 million (on April 20th) in funding at a $1.7 billion post-money valuation. What’s interesting here is that the startup initially set out to raise $150 million in capital, but it ended up raising much more due to “strong demand from investors who wanted to contribute more.” Those investors include Tiger Global Management, Tao Capital Partners, Prescott General Partners, and Redmile Group. You may wonder — is e-cigarette vaping startup Juul somehow involved in this? Not really, but it does have connections.

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