Greentank Technologies, a Toronto, Canada-based B2B company providing vaporization hardware and atomization technology, raised USD$16.5M in Series B funding.
The round, which brought the total amount to $38.5M, included a $14.5M USD equity investment led by Organigram Holdings and an additional $2M USD of debt financing was provided by existing shareholders.
The company intends to use the funds to accelerate the commercialization of its proprietary technology, which is expected to launch later this year and serve multiple markets beyond cannabis.
Led by CEO Dustin Koffler and COO Corey Koffler, Greentank is a business-to-business technology company specializing in the design, development and manufacture of precision-made vaporization hardware and atomization technology. The company has a proven track record with hundreds of vape brand launches across the United States and Canada.
Over the past three years, the company has invested in innovation, developing heating technology that will expand its reach beyond cannabis to serve the broader vape category including nicotine, e-liquids, pharmaceuticals and more.
FinSMEs
31/03/2023