CannaKorp, Inc., a Stonham, Mass.-based maker of a single-use, pod-based cannabis vaporizing system, closed its $4.1m Series A round of funding.
The round was led by Singularity Capital Management, a private equity firm focused on the cannabis industry.
The company, which has now raised a total of $5.7m in 2016, will use the funds for manufacturing, enabling cultivator and dispensary partners, as well as commercialization activities such as launching the CannaCloud™ in select markets later this year.
Led by James Winokur, Co-Founder & CEO, CannaKorp a cannabis vaporizing system which includes the vaporizer device, CannaCloud(TM); single-use, pre-measured pods containing ground, lab tested cannabis called CannaCloud Pods(TM); and an automated processing and filling machine, the CannaMatic(TM).
The rolling launch plan will bring the CannaCloud system to multiple states and cities in North America throughout 2017.