Black Buffalo, Inc., a Chicago, IL-based maker of smokeless tobacco alternative products, closed a $30m Series A equity funding.
The round was led by The Pritzker Organization and Listen Ventures, with additional participation from Watchfire Ventures, Vice Ventures, and UTC Ventures (an affiliate of United Tobacco Company). TPO Managing Director Jason Pritzker and Listen Ventures Managing Partner Jeff Cantalupo have joined the Board of Directors of Black Buffalo in conjunction with the transaction closing.
The company intends to use the funds to to accelerate every aspect of the business, including identifying new key hires in sales, marketing, manufacturing, and finance.
Founded in 2015, Black Buffalo has created smokeless tobacco alternative products. Its eight core products contain pharmaceutical-grade, tobacco-derived nicotine but no tobacco leaf or stem, and these core products remain the subjects of a pending bundled Premarket Tobacco Product Application (“PMTA”) application that the company timely submitted to the U.S. Food and Drug Administration (“FDA”) in September 2020. Black Buffalo has also developed a lineup of ZERO-branded nicotine-free, tobacco-free products.
The products can be purchased by adult (age 21+) consumers of nicotine or tobacco products at over 800 convenience stores and tobacco outlets nationwide, as well as online at www.blackbuffalo.com.
FinSMEs
08/08/2022