Kanvas Receives Strategic Investment from Btomorrow Ventures, A Division of BAT, As Lead Investor
Summary
The terms of the transaction were not disclosed.The new investment will fuel the research, development, and growth necessary to commercialize Kanvass proprietary Vapetelligence technology platform and further enable scalability of its innovative products, designed to promote device safety in electronic vaporizers and regulated marketplaces globally. "Kanvass pioneering innovations will be a catalyst for brands to support better, safer consumer experiences through integrating higher quality software and smart-chip technology. With its innovative product proposition, strong management team, and now strategic partnership with BAT, we believe the Company is poised for success, and we welcome it to BTVs portfolio," says Lukasz Garbowski, BTV Investment Director.Ed Forsdike, Head of R&D, Beyond Nicotine at BAT, added, "We are excited to be partnering with the team at Kanvas and investing in this important new technology for the vaping category. "Kanvas has a diverse portfolio of patents in technology, software, and hardware products to offer brands a comprehensive suite of premium solutions for electronic CBD, cannabis, and nicotine delivery systems, including its proprietary temperature-controlled dosing technology and software platform, Vapetelligence.BTV is the corporate venturing unit of British American Tobacco (BAT). Headquartered in Orange County, California, Kanvas provides safety, security, and performance through its patented software and hardware platform, Vapetelligence.