NJOY, a Scottsdale, Arizona-based independent electronic cigarette company, raised more than $70m in capital.
The round was led by Brookside Capital along with Morgan Stanley Investment Management, GAM Technology Strategy and other institutional investors.
The company will use the funds for marketing, international expansion and research and development initiatives, including clinical trials.
Led by Craig Weiss, CEO, NJOY offers disposable and rechargeable electronic cigarette products for adult smokers. These products provide nicotine with rich tobacco or menthol flavor, without tobacco smoke or odor.
It is currently in over 90,000 stores in the U.S. and more than 40,000 across the UK, Ireland, France, Spain, Italy, Portugal and the Netherlands.
The company, which has offices in New York and London, announced a $75m funding raise In June 2013 (read here).
FinSMEs
03/03/2014