Santa Barbara, CA (April 16, 2014) – KandyPens Inc., the manufacturer of the SkyCloud multi-functional portable vaporizer, has received a financing round from Dutchess Opportunity Fund II, a Boston-based hedge fund that actively invests in the cannabis industry. The SkyCloud boasts a revolutionary 3-in1 vaporizer pen with attachments for e-liquid, dry tobacco/flower and wax/concentrates. The revolutionary vaporizer, which is the first of its kind, comes in 13 colors and includes the three atomizers, the battery, USB charger and cleaning tools. In addition, the SkyCloud comes with a lifetime warranty on the battery. The interchangeable chambers enable users to easily swap cartridges for their desired concentrate. The Skycloud’s sleek and elegant design is both compact and durable. The injection of funds from Dutchess will enable KandyPens to expedite and scale up production in order to meet the high demand for the product.
Douglas Leighton from Dutchess stated, “We are very excited to be part of such an inventive and functional product. We like the trend towards vaporizers as a healthy way to deliver medicine to the patient. This investment adds another impressive company to our cannabis portfolio.”
Graham Gibson Founder/CEO of KandyPens Inc. stated, “We were looking for a company like Dutchess Capital to assist us in the growth and expansion we needed to fulfill the market’s demands. This is an exciting time in the cannabis industry and an exciting time for KandyPens. We can’t wait to unveil what’s next in the pipeline of KandyPens products that will further solidify us as one of the leaders in the portable vaporizer industry.”
About KandyPens, Inc.
Based in Santa Barbara, CA, KandyPens Inc. is a business engaged in the development, design, marketing, and distribution of battery operated multi-functional medical vaporizer devices. Find out more at www.kandypens.com.
About Dutchess Opportunity Fund II
Dutchess Opportunity Fund II invests in special situations assisting growth-stage and mature companies alike. Since 1996, Dutchess has managed over $2 billion in transactional value for companies which span a wide array of sectors. With offices in Boston, New York, London, Beijing and São Paulo, Dutchess invests in global investment opportunities. For further information about Dutchess, please www.dutchesscapital.com.