Grenco Science, a Los Angeles-based cannabis vaporizer brand, has raised an undisclosed amount in a Series A financing.
Investors in the round included Serruya Private Equity, the investment arm of Canada’s Serruya family, and Stable Road Capital.
Launched in 2012, Grenco Science uses technology to develop a line of portable cannabis vaporizers, including the original G Pen.
The financing’s proceeds will support expansion of the company’s product range and global growth.
Grenco Science, the leader in advanced technology cannabis vaporization, Completes Series A Financing
LOS ANGELES, July 29, 2019 /PRNewswire/ — Grenco Science, the leader in advanced technology cannabis vaporization that has been in operation for 8 years, recently completed its Series A financing. Investors in the financing round included Serruya Private Equity and Stable Road Capital. Grenco Science plans to deploy the funding to invest in ground-breaking technology and to expand the innovative product range with first-of-its-kind vaporizers while continuing to expand on a global scale.
Grenco Science launched in 2012 when CEO and Founder Chris Folkerts transformed the cannabis experience with the introduction of the first G Pen, which combined cutting-edge technology with cannabis consumption. Committed to innovative technology, Grenco Science developed a range of innovative vaporizers which includes the G Pen Elite, Pro, Nova, Nova LXE and Gio, and has new products in development. Through proprietary technology and design, the company is continuously raising the bar in aesthetics, portability, functionality and user experience.
“We have seen unparalleled growth over the past year and this marks another milestone for the company, allowing us to continue to lead the way in cannabis vaporization and introduce revolutionary technology that will change the way the world thinks about and consumes cannabis,” said Folkerts.
“We couldn’t be more excited to be partnering with Grenco and joining their Board of Directors. We look forward to helping them institutionalize the business and bring their deep product pipeline to market,” Brian Kabot said, who is the Chief Investment Officer at Stable Road Capital.
“GPen is a truly unique brand that has come to stand for a high-quality, value-focused product, while remaining equally committed to sustainability and the community. We understand the importance of building brands and welcome the idea of working with yet another authentic California cannabis brand, such as G Pen, to accelerate brand growth in the cannabis marketplace,” said Aaron Serruya.
Roth Capital Partners served as financial advisor to Grenco Science.
“We recognize the innovative work that Grenco Science has done in bringing technological advancements to the vape industry. CEO Chris Folkerts is a visionary and one of the leaders in the medical and legal cannabis markets,” said Byron Roth, Chairman and CEO of Roth Capital Partners.
About Grenco Science
Grenco Science is a leader in engineering advanced cannabis vaporizers, setting new standards in aesthetics, portability, functionality, and user experience. Through proprietary research and development, as well as collaborations with influencers in music, art, and fashion, Grenco Science is transforming the cannabis experience and leading the movement to bring cannabis traditions to the 21st century. Visit gpen.com.
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