Toronto-based Green Tank Technologies raises $4.3 million from Snoop Dogg

Green Tank Technologies

Toronto-based vape manufacturer Green Tank Technologies has raised a $4.3 million seed round from Toronto-based Green Acre Capital and Snoop Dogg’s venture capital firm Casa Verde.

Alan and Lorne Gertner, founders of Canadian lifestyle brand Tokyo Smoke, also participated in the round. The funding will go towards product development, market expansion, and the continued growth of sister company WeCannect, a B2B discovery and networking platform for the cannabis industry.

“Licensed producers and oil extractors lack access to reliable, quality vaporizers tailored to their high viscosity extracts,” said Dustin Koffler, CEO of Green Tank. “Our solutions allow producers to focus on their craft, while allowing us to deliver the ultimate vaporization experience to their customers. This investment will allow us to accelerate the development of innovative, premium new products while ramping up operations and expanding our market reach.”

This is the second Canadian investment for Casa Verde, which invested in Toronto-based Trellis in September 2017 for its cannabis inventory management software.

“There has been a lack of consistency and quality when it comes to vaporization hardware, which for the most part has been leveraging old electronic cigarette technology. With a product line purpose-built for the cannabis industry, Green Tank has quickly garnered a reputation for innovation, excellence and reliability that makes it a welcome addition to the Casa Verde portfolio,” says Karan Wadhera, managing partner at Casa Verde Capital.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.