New York, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The Blinc Group, Inc., the regulatory-focused designer and provider of premium, customized and bespoke vaporizer technologies, has successfully raised a pre-Series A bridge financing of $1.5 million led by Equitas Partners Fund, WGD Capital, LP, and 7thirty Capital.
“The Blinc Group puts quality and safety at the forefront of its vape technology and since day one, that dedication to the highest standards has brought us the endorsement of institutional investors focused on the cannabis industry. Our team navigated 2019’s vape crisis helping set standards and advise regulators on testing and compliance, and last year the company saw our best quarter yet amid the COVID-19 pandemic as the industry learned the benefits of safety and traceability. We have shown that we are a resilient company that puts consumers first, which has made all the difference,” said Arnaud Dumas de Rauly, CEO and co-founder of the Blinc Group.
In 2020, Blinc Group more than tripled its orders with over 330% YOY growth, showcasing the technology company’s ability to scale and flourish in a difficult regulatory landscape. They attribute much of their success to the emphasis the company placed on safety, compliance and maintained throughout the vape crisis of 2019 and the Coronavirus pandemic. The company has won clients from around the globe including Canadian heavyweights because of its unique ability to meet Health Canada’s rigorous standards, a success unmatched by most other vape companies.
“We began underwriting our initial investment in Blinc near the onset of the so-called vape crisis in 2019 and it became quickly apparent that the team’s experience within the vape technology space and its focus on quality, traceability and customer service would see them through and enable them to emerge as a market leader. While others turned more attention towards safer vaping products after the crisis, safety had always been a major pillar of Blinc’s products and part of its DNA, which attracted us as investors and gave us confidence that they would be able to substantially expand their business into Canada and elsewhere,” said Andi Goldman, Managing Member and co-founder of the Equitas Partners Fund.
The Blinc Group has also stayed ahead of the industry in part due to its strong ties in Shenzhen, China, and employing a manufacturing line dedicated to their products, which helped eliminate hiccups in the supply chain. The Company’s China-based team is the backbone of Blinc’s “Powered By Blinc” offering, a certified product manufactured to the highest international standards of safety and compliance with complete quality control and full traceability of the product, process, and each sub-component across the entire supply chain.
“We have watched the Blinc team over the past few years as they have grown their business and dedicated their focus to safety and traceablity within the vape hardware sector. Blinc’s reputation for putting these important factors first has secured customer wins with some of the leading cannabis operators in North America”, said Michael Mitgang, Managing Director and Co- Founder of the WGD Opportunity Fund.
Proceeds from this financing will go towards expanding Blinc’s sales team, opening an office in Toronto, as well as expanding the team in Shenzhen, and the research and development of new innovative materials and vape technologies.
“The vape category is one of the primary revenue drivers in every market and satisfies the demands of some of the most committed cannabis consumers. Providing high-quality products is a must for any brand looking to win and retain loyal shoppers,” said 7thirty’s Director of Research, Ben Richardson “The Blinc Group’s focus on vape safety and compliance, in addition to CEO Arnaud Dumas de Rauly’s leadership roles with International and European committees on vaping products, position the Company as a leading voice in this fast-growing category.”
In 2020, The Blinc Group worked closely with Colorado's Science & Policy Committee on the adoption of new testing standards for the emissions from vape devices. This kind of work is just one example of the dedication that the Blinc Group team puts on aligning the cannabis industry with best practices for the safest products possible.
The Blinc Group also received additional funding from the Arcview Collective Fund and the Panther Opportunity Fund.
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About the Blinc Group
Headquartered in New York City, the Blinc Group designs, develops, supplies, and supports premium cannabis vaping hardware. The company offers a curated collection of proven cartridges, batteries, ready to use vaporizers and complete bespoke device development to multi-state operators, licensed producers, and brands. Blinc completes the value chain by providing its clients access to a suite of support services ranging from research and development, production, testing, standard operating procedures, training and all the way to go-to-market strategy and brand communications consulting. With full control of the supply chain, the company’s unique “Powered by Blinc” process enables clients to provide innovative, safe, and quality-controlled products to cannabis consumers worldwide.
About Lead Investors
Equitas Partners Fund LLC
Founded in 2018, Equitas Partners Fund is a U.S. based investment fund focused on early-stage investments in the legal cannabis industry, primarily in the US and Canada, in both plant-touching and ancillary companies. The Equitas team brings decades of institutional investing and corporate operating experience (in both cannabis and other industries) to the developing and fast-growing legal cannabis industry. Equitas places a strong emphasis on company management, investment valuation, and extensive due diligence to build a well-diversified portfolio of legal cannabis investments.
WGD Capital, LP
WGD Capital, with offices in the San Francisco Bay Area, Vancouver, Canada and Tel Aviv, Israel, is focused on investing in and managing a portfolio of innovated market-leading businesses along the cannabis industry value chain. The goal of the WGD Opportunity Fund is to generate attractive returns while mitigating risk through professional management, diversification, structured investments, and corporate governance.
7thirty Capital
7thirty Capital provides a full range of capital services to investors and companies in the frontier cannabis markets. The 7thirty team includes investment veterans with over 25 years of Wall Street experience in commodities, agriculture, consumer goods and technology. 7thirty is headquartered in Boulder, Colorado with offices in New York City.