PAX Labs Raises $420 Million

PAX Labs Raises $420 Million: Will They Pivot Into New Territory ?

When PAX Labs ,formerly Ploom, released their dry herb vaporizer in 2007 named simply the “PAX” it seemed as if vaporizing cannabis would supersede smoking as a healthier alternative in no time.

Sales of this new blockbuster vaporizer were so astounding  that millions of dollars in VC funding poured into the company and upgraded models of the PAX ( PAX 2 and PAX 3) vaporizer followed. But while vaporization of cannabis has grown, it still remains a small subsect in an ever changing cannabis space that sees new competitors hoping into daily.