MMJ company CannaKorp raises $5.7 million in 2016

CannaKorp, a Massachusetts company that’s been dubbed the “Keurig for marijuana,” said it raised $4.1 million in its latest round of fundraising to help manufacture and distribute its pod-based medical cannabis vaporizing system.

For all of 2016, the company raised $5.7 million. The total includes an initial $1.6 million seed funding earlier that year, CannaKorp said in a news release.

The company’s CannaCloud vaporizer is designed to allow medical cannabis patients to consume MMJ using a single-use, dose-controlled cup, or pod.

CannaKorp said the funding will be used to manufacture its technology, cultivate partnerships with growers and dispensaries, and launch its CannaCloud vaporizing system for use with the pods in “multiple states and cities in North America throughout 2017.”

The company is based in Stoneham and run by a former Keurig executive.

 

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