Consumer Tech Brand PAX Secures $420 Million in Funding

PAX Labs, Inc., acquired $420 million in equity financing from global institutional investors representing technology, healthcare, consumer products and diversified public equities, including existing investors Tiger Global Management and Tao Capital Partners.

A self-professed leader in the design and development of premium app-controlled vaporization technologies and devices, PAX strives to take the guesswork out of cannabis through its flagship vaporizers—PAX Era for concentrates and PAX 3 for flower—as well as its mobile app, which are designed to allow consumers to control the temperature and draw strength, providing greater predictability in each session.

According to the San Francisco-based company, PAX has sold 500,000 Era devices for oil concentrates and one million devices in the flower vaporizer category.