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Home 🌿 Cannabis Technology News 🌿 This Boston-Area 'Keurig for Weed' Just Raised $4.1M to Launch This Year 🌿

This Boston-Area 'Keurig for Weed' Just Raised $4.1M to Launch This Year

Submitted by Marijuana News on Fri, 01/13/2017 - 09:41

CannaKorp is a Stoneham-based startup that has earned the title of "Keurig for weed" because of the single-use, pod-based cannabis vaporizing system it has developed, and investors are lining up.

The company announced on Thursday that it has closed a $4.1 million Series A round led by private equity firm Singularity Capital Management, which focuses on the cannabis industry. This brings total funding to $5.7 million.

The funding will be used to launch the company’s CannaCloud vaporizing system in select markets where cannabis is legal later this year. The round will also help the company build out a partner network of dispensaries and processors, which CannaKorp will rely on the distribute and sell the product.

James Winokur
 

James Winokur

James Winokur, co-founder and CEO at CannaKorp, told me its first markets will be...

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