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US-based Pax Labs Collects $20 million From Investors

siliconreview US-based Pax Labs Collects $20 million From Investors

Pax labs, a US-based e-cigarette company has raised $20 million from investors. The company hasn’t disclosed about the valuation.

Nowadays, there are many companies which manufacture marijuana devices, but PAX produces vaporizers which is compatible with the internet, where users can control their highness while consuming the drug. The device is very thin and looks like highlighted pens an USB sticks. A separate app is there for the device where the users can select the amount of smoke he/ she wants to bump, for example, a user will lower the smoke while smoking in the public.

Originally, Pax Labs was under Ploom, a vaporizer technology launched in 2007. The founders were two Stanford students, Monsees and Bowen. The first vaporizer of the company was Pax which had the potential to steam loose-leaf marijuana buds in 2012.

Both the founders released Juul, a highly addictive nicotine-only device in 2015. The device was very popular and became a sensation among the teenagers around the US and quickly drew the ire of parents and regulators across the world.

Both the Founders have separated Ploom into two different companies in 2017. Monsees and Bowen work at Juul and have no formal executive title at Pax. According to Bharat Vasan, CEO of Pax Labs, both the founders have decided to part after both the companies faced distinct regulatory challenges.

It will be interesting to see Pax Labs’ growth in the future.