NEW YORK, May 5, 2019 /PRNewswire-PRWeb/ -- Indose, a groundbreaking precise dosage vaporizer, today announced it has closed a $3.5 million Series A round led by Casa Verde Capital. The California-based venture capital firm, which focuses exclusively on the cannabis industry, boasts a diverse portfolio of leading businesses such as Metrc, Dutchie, Vangst, Green Bits, LeafLink and more.
Indose brings to market a proprietary metered vape pen technology that measures the precise dose —down to the milligram — of THC delivered with every draw. As a person inhales, their dosage is shown in real-time on an LED display that ranges from .05 MG to 4 MG, creating an individualized, controlled cannabis vaping experience. The device is a drastic improvement over existing vaporizers on the market that provide either no control over dosage, or a one-size-fits-all approach using timers to deliver the same dose to everyone.
"Dosage control is key to an effective and consistent cannabis experience, and there is no such thing as a universal dosage that is right for everyone," said Indose co-founder and CEO Benzi Ronen. "We created Indose to address the critical gap we observed with first-generation vaporizers that guestimate dosage based on draw time or by moderating the temperature of the heating element. There is no universal dosage amount that is consistent to everyone regardless of their stature, experience or tolerance level. Dosage needs to be modified to each individual based on their receptors, body attributes and desired effects. With people using cannabis for therapeutic reasons in mind, we've developed a science-backed delivery system that's both precise and personalized."
Following three years of intensive research and development (and 15 filed patents) the Indose vaporizer features two proprietary sensors which take 10 measurements per second to calculate the precise milligrams of THC and CBD being inhaled by the user. This dosage is presented on the device in real time via an easy to read LED display. Whereas less sophisticated dosage-driven vapes deliver a "standard dose" between 2 and 3 MG, Indose allows users to micro-dose in .05 MG increments.
Indose is democratizing this medical-grade device at an affordable price point. The vaporizer retails for less than $70, is recyclable, and comes paired with some of the world's top cannabis oil brands — further customizing the experience. Indose is currently available in select pilot dispensaries in California and will announce a large-scale distribution partnership this summer. "With decades of combined experience in product development and manufacturing, the Indose team was uniquely positioned to develop this innovative new technology," said Karan Wadhera, Managing Partner of Casa Verde Capital. "We believe precise, self-regulated and responsible dosage will be the next frontier in vape delivery systems, and Indose is ahead of the curve with a device that brings medical precision to the mainstream."
Vaporizers are currently the fastest growing segment in cannabis, according to market research company ArcView. By next year, the vape segment of the legal marijuana industry in the United States is expected to more than triple to $3.9 billion. By 2021, vape sales are predicted to surge to a total of $5.2 billion -- accounting for 25% of the entire industry.
This $3.5 million raise will go towards expanding partnerships with cannabis oil manufacturers and brands across the country, increasing the size of the R&D team, filing for additional patents, and pursuing medical device certification.
For more information, please visit http://www.indose.com
About Indose: Indose is the world's first real-time, metered precise dosage vaporizer, co-founded by tech entrepreneur and Farmigo CEO Benzi Ronen and brothers Ari and Dani Freeman. Together, they have launched dozens of products to thousands of retailers worldwide, raising over $100 MM in financing.
About Casa Verde: Casa Verde Capital ("CVC") is the leading venture capital firm focusing exclusively on the cannabis industry. As both the domestic and international cannabis markets continue to evolve and mature, CVC maintains a view that the cannabis industry will be among the most compelling investment themes of our generation.
Lisa Weser | [email protected]
Jenny Gorenstein | jenny(at)trailblazepr.com