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The world’s first single-use, pod-based cannabis vaporizing system announced that it has successfully closed its Series A round of funding. CannaKorp, Inc; a Massachusetts-based technology startup company is simplifying and improving the experience for cannabis patients and consumers, through the development of their single-use pod-based vaporizing system.  

With a raise goal of $4 million, Cannakorp found themselves oversubscribed by reaching $4.1 million in funding with Singularity Capital Management as the lead investor, a private equity firm focused on the cannabis industry. This isn’t the first time Cannakorp found themselves oversubscribed. In 2016 during their seed round they raised $1.6 million, currently making this company one of the most well-funded startups in the cannabis industry.

Noted as the Keurig of Cannabis, with it’s clean, easy to use and modern design allows users to comfortably enjoy a convenient and efficient vapor. The CannaCloud™ has a hygienic, one-way valve that is also detachable for easy cleaning. Consumer’s get to choose from various types of sativa, indica, hybrid and CBD only strains that are already pre-grounded into the pods.

With this round of funding, Cannakorp will be using it towards manufacturing, enabling cultivator and dispensary partners as well as go-to-market activities such as launching the Cannacloud in select markets later this year.

“Successfully oversubscribing both our seed and Series A rounds of funding demonstrates the confidence our expanding network of investors has in CannaKorp, and more broadly, in the rapidly growing cannabis industry,” said James Winokur, CannaKorp Co-Founder & CEO.

How did The CannaCloud evolve?

Michael Bourque, inventor of the Cannakorp, found himself a bit overwhelmed when he was prescribed Medical Marijuana. He wanted consistency, standardized packaging and easy administration and no mess. With his engineering background he decided he could invent a solution to a problem he knew many others were having a well.

Michael teamed with Dave Manly, a former VP of Keurig Green Mountain, maker of the pod coffee machine and James Winokur, a technology executive and now the company’s CEO. The trio developed a machine similar to the Keurig coffee maker but for marijuana vaporization.

How to Use The CannaCloud

  1. Insert your favorite CannaCup strain into the travel mug-like canister
  2. Place the canister into the CannaCloud and press the button on the display
  3. In less than a minute, the vessel fills with vapor

This system eliminates smoke, vaporizer filter cleaning and a collection of tools usually associated with cannabis use.

The company’s rolling launch plan will bring the CannaCloud system to multiple states and cities in North America throughout 2017.

Learn more about Cannakorp here.