+ 4.58
+ 1.51%
+ 5.52
+ 1.78%
+ 6.84
+ 1.82%
+ 0.27
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Snoop Dogg's Casa Verde Capital Invests In Precision Vaporizer Company Indose

May 3, 2019 2:47 pm
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Snoop Dogg's Casa Verde Capital Invests In Precision Vaporizer Company Indose

Cannabis-focused venture capital firm Casa Verde Capital has invested in vaporizer company Indose.

What Happened

Casa Verde, Snoop Dogg's venture capital arm, led the Series A round that helped Indose raise $3.5 million.

Indose is developing vape pens with a focus on dose precision in order to create a personalized vaping experience. The pen comes with an LED display that shows the amount of THC inhaled with every draw from 0.5 mg to 4 mg of THC.

Why It's Important

Indose has filed over 15 patents for its technology and has spent three years of research and development. Their product is fitted with two proprietary sensors that take ten measurements per second to calculate the amount of THC and CBD that a user inhales.

Even though it's a medical-grade device, Indose vape pen retails for less than $70, which should help it sell once it reaches a mass-scale distribution. It's available in select locations in California.

What's Next

The company plans to use the funding from the Series A round to increase the size of its R&D team, file for additional patents, obtain medical device certification, as well as expand partnerships with cannabis oil brands across the U.S.

Indose also expects to announce a large-scale distribution partnership this summer.

Related Links:

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Photo courtesy of Indose.