Massachusetts-based CannaKorp closed a $4.1 million Series A round of funding bringing it closer to launching its ‘cannabis Keurig’ – a single-use, pod-based vaporizer – in April, according to a BostInno report. The funding was led by cannabis investment firm Singularity Capital Management.
The company plans on first selling the CannacCloud through a network of dispensaries and processors in their home state, Rhode Island, Colorado, Washington, Oregon, and, eventually, Canada.
According to CEO and Co-Founder James Winkour, the system is expected to retail between $150 and $170. The pods are expected to run $6 to $10 depending on the strain. The products will be available at partnering dispensaries in legal U.S. states and would be available online for the Canadian market. The pods are made of recyclable aluminum in order to mitigate potential waste – a pressing sustainability concern of the traditional Keurig K-Cup.
Winker said people believe the device “helps normalize the industry” due to its design and that it would appeal to both current cannabis users who want a convenient and controlled way to consume, and those who are curious but uninterested in consuming it via traditional methods.
“We’re really focusing on ‘how do we educate the mainstream that cannabis has a beneficial effect?’” Winokur said in the report. “And that’s what we’re really after.”
Get daily cannabis business news updates. Subscribe
End