Pax Labs Raises $420 Million At A Valuation Of $1.7 Billion
PAX originally only set out to raise $50 million but had higher demand
Pax Labs, the popular vape maker, has today confirmed the close of a $420 million equity round, including from existing investors Tiger Global Management and Tao Capital Partners, and new investors including Prescott General Partners.
A Pax Labs spokesperson confirmed to TechCrunch that the post-money valuation for Pax Labs is $1.7 billion.
The Information first reported the round, but we’ve confirmed the specific details, including funding amount and valuation.
Pax Labs launched in 2007 with the hopes of creating a cannabis vaporizer. Since then, the company has created vaporizers for just about every corner of the space, including the PAX Era for concentrates and the PAX 3 for flower.
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