Connect with us

Heartland

The Blinc Group Raises $1.5 Million

The vape technology company The Blinc Group, Inc. 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 company said that the money will be used towards expanding Blinc’s sales team, opening an office in Toronto, as well as expanding the team […]

The post The Blinc Group Raises $1.5 Million appeared first on Green Market Report.

Republished by Plato

Published

on

The vape technology company The Blinc Group, Inc. 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 company said that the money will be used towards expanding Blinc’s sales team, opening an office in Toronto, as well as expanding the team in Shenzhen, and the research and developing of new innovative materials and vape technologies.

“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.

The Blinc Group managed to weather the storm of the 2019 vape crisis and persevered through the COVID pandemic. In 2020, the company said that it more than tripled its orders with over 330% year-over-year growth. The company attributed its success to the emphasis it placed on safety, compliance 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. In September 2020, The Blinc Group joined the ASTM International, formerly known as the American Society for Testing and Materials, Committee D37 on Cannabis.

“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 also received additional funding from the Arcview Collective Fund and the Panther Opportunity 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.

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 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.”


Post Views:
27

Source: https://www.greenmarketreport.com/the-blinc-group-raises-1-5-million/?utm_source=rss&utm_medium=rss&utm_campaign=the-blinc-group-raises-1-5-million

Heartland

Republished by Plato

Published

on

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source:

Continue Reading

Heartland

Republished by Plato

Published

on

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source:

Continue Reading

Heartland

Republished by Plato

Published

on

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source:

Continue Reading
Metal4 days ago

ArcelorMittal raises CRC and HDG prices in Europe

News4 days ago

Automated processing of aerospace scrap for precious elements

Heartland4 days ago

Metal4 days ago

US manufacturing PMI rises to 60.8 percent in February

Heartland1 day ago

Why CBD is a Great Partner for Any Wellness Routine

Heartland4 days ago

Best CBD store in Europe?

Heartland5 days ago

Heartland4 days ago

Top 5 reasons people use CBD tinctures

Heartland4 days ago

Cannabinoids in Audiogenic Seizures: From Neuronal Networks to Future Perspectives for Epilepsy Treatment

Heartland3 days ago

CBD and Menopause

Heartland5 days ago

Heartland4 days ago

Recommended CBD isolates?

Heartland4 days ago

Material2 days ago

Radiation-induced effects on micro-scratch of ultra high molecular weight polyethylene biocomposites

Heartland1 day ago

Remove Limonene from oil

Heartland5 days ago

I was wondering if anybody has had experience with Sonoma CBD Supply, and if they are trustworthy or not?

Heartland4 days ago

CBD flower

Heartland4 days ago

CBD Gummies Market Market 2021 Key Players- Reliva CBD Wellness, Sunday Scaries, Green …

Heartland4 days ago

Industrial Hemp Market Recent Trends, Demand, Challenges and Opportunities with Industry Size …

Heartland4 days ago

Cannabinoids, reward processing, and psychosis

Heartland4 days ago

Cbd and cats

Heartland3 days ago

Collecting and Storing Cannabis Pollen

Heartland3 days ago

DSW shoe store closing at Watertown mall

Heartland8 hours ago

Heartland5 days ago

Hemp goes from zero to economic hero

Heartland4 days ago

Field Trip Health Announces Upsize to Previously Announced Bought Deal Public Offering

Metal4 days ago

Primetals, Midrex to supply world’s largest HBI Plant to Mikhailovsky HBI

Metal4 days ago

US OCTG exports down 10.9 percent in December

Heartland4 days ago

Heritage Cannabis Reports 2020 Year-End Financial Results

Heartland3 days ago

Global Hemp Biomass Decarboxylation Service Market Report 2021: Top Companies Radient Inc …

Trending

A Cloud Nine Capital Entity Copyright © 2020 – All Rights Reserved Proudly Made in America