During an exclusive conversation, ahead of the publication of a press release, vaporization technology company Airgraft revealed it has closed a multi-round financing of more than $33 million, as well as the launch of a line of products including the Airgraft Clean Vaporizer, cannabis concentrate pods, and an app to control the actual vaporizer.
The $33 million were raised in two separate rounds, and most of the funds were used to develop the product line. The latest round was led by Gotham Green Partners, famed backed of MedMen Enterprises Inc (OTC: MMNFF) (CSE: MMEN) and Jane Technologies – among several others. The first round was led by HumanCo.
During this exclusive chat, HumanCo CEO and founder Jason Karp said that as someone who has dealt with autoimmune disease and heavy metals poisoning, he believes there is “a strong need for a health-focused vaping platform that provides a clean, unadulterated and trustworthy experience.
“The first phase (discovery and novelty) of vaping is over and, consistent with the powerful health and wellness groundswell, we are now in a second phase where ` is developing and people are demanding safety, artisanship and quality,” he added.
Karp explained he led the Airgraft first round and joined the board on the belief that the company offers a strong, technologically-advanced product while strongly addressing “the demographic and health-focused trends that are rapidly accelerating.”
“The first phase (discovery and novelty) of vaping is over and, consistent with the powerful health and wellness groundswell, we are now in a second phase where connoisseurship is developing and people are demanding safety, artisanship and quality.”
Adding to these comments, Jason Adler, managing member at Gotham Green Partners noted how over the past few years the market has witnessed a quick expansion of cannabis delivery methods.
“Despite being the fastest growing category, vaporization has seen little innovation and consumer awareness of its benefits until now. We are thrilled to invest in Airgraft and their truly forward thinking device that emphasizes responsible use and transparency,” he voiced.
Readers might wonder: what’s so special about Airgraft’s vaporizers to justify a raise of over $33 million?
Well, the Airgraft Clean Vaporizer is made of polished ceramic, also is used to make luxury watches and knives.
“The Clean Vaporizer elegantly conceals a suite of technology features that give control and transparency to users: heating algorithms unique to each oil to prevent burn and serve better quality vapor; authentication and recognition technology; precision dosing; responsible use safety lock feature,” an Airgraft spokesperson explained.
The vaporizer also connects to an app. Both use an authentication technology that ensures Airgraft users are getting certified products only. The app provides:
These characteristics were developed by funneling and leveraging the team’s experience in wearables, health-tech and connected smart devices into creating an overall “cleaner and more responsible vaporizer that meets modern expectations head on, added Mladen Barbaric, founder and CEO of Airgraft.
“Technology that we take for granted daily has been slow to transform vaporization. As the benefits of plant-based vapor begin to enter mainstream we’ve seen a huge opportunity to start with a clean slate and rethink the delivery method from the ground up."