• PAX Labs

  Participated · Series C · Jun 2015

  Pax Labs makes consumer vaporizers, including the PAX Era for concentrates and the PAX 3 for flower. The company confirmed a $420 million equity round at a $1.7 billion post-money valuation. Management says the financing will fund brand growth, development of new products, and expansion into new markets such as Canada, and exploration of hemp-based CBD extracts. Pax is hiring and investing in its people to support its mission of establishing cannabis as a force for good and positioning itself as a gold standard for safety. Leadership has signaled a focus on combining hardware and software to give users more clarity about cannabis products, though specific product details were not disclosed. PAX Labs designs and sells vaporization hardware and e-cigarette platforms, including the PAX portable loose-leaf vaporizer, PAX 2, and the JUUL e-cigarette and e-liquid system. JUUL uses nicotine salt technology reverse-engineered from nicotine found in leaf tobacco rather than free-base nicotine. The company says it has sold well over 500,000 units and has grown nearly 200% over the past two years. PAX plans to expand product availability both domestically and internationally, scale its category-redefining tobacco vapor products led by JUUL, and extend the application of its vapor science into new verticals. The firm frames vaporization as a highly disruptive technology with potential applications across the $1 trillion existing tobacco industry and other delivery-system markets. Founded in 2007 and headquartered in San Francisco, PAX intends to apply its integrated science and technology platforms to innovate the smoking and related industries.

No current team members are available.