Kanvas Receives Strategic Investment from Btomorrow Ventures, A Division of BAT, As Lead Investor
Newport Beach, CA, September 6, 2022 – The Kanvas Co. (“Kanvas”), developer of patented electronic vaporizer technology solutions designed to deliver device safety, performance, and reliability for nicotine, cannabis, and cannabidiol (CBD) delivery systems, today announced the completion of a strategic investment (the ”Investment”). The Investment was led by Btomorrow Ventures (BTV), the corporate venturing unit of British American Tobacco (BAT). The terms of the transaction were not disclosed.
The new investment will fuel the research, development, and growth necessary to commercialize Kanvas’s proprietary Vapetelligence™ technology platform and further enable scalability of its innovative products, designed to promote device safety in electronic vaporizers and regulated marketplaces globally.
“Kanvas is excited to work with BTV as a strategic investor to advance the commercialization of our unique IP portfolio and technology platform, focusing on our patented and temperature-controlled dosing technology and hardware that provides a secure and controlled delivery system for brands,” said Andy Fathollahi, CEO, Kanvas. “Kanvas’s pioneering innovations will be a catalyst for brands to support better, safer consumer experiences through integrating higher quality software and smart-chip technology.”
“BTV is thrilled to support Kanvas. 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 BTV’s 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 cannabis and nicotine delivery systems, including its proprietary temperature-controlled dosing technology and software platform, Vapetelligence™.
About Btomorrow Ventures (BTV):
BTV is the corporate venturing unit of British American Tobacco (BAT). Established in 2020, BTV invests in high growth businesses, from seed funding to those looking for further, series B investment. BTV's focus is to invest in world-class entrepreneurs with innovative products, and differentiating technologies. BTV supports BAT's corporate purpose of building A Better Tomorrow™ and will accelerate its transformation into a multi-category consumer goods business. For more information, visit our website: http://www.btomorrowv.com.
About The Kanvas Co. (Kanvas):
Kanvas® is a cannabis and nicotine technology company whose innovative software and hardware platform introduced temperature-controlled dosing technology and heating profiles that accurately and reliably deliver best-in-class vaporizing technology. Headquartered in Orange County, California, Kanvas provides safety, security, and performance through its patented software and hardware platform, Vapetelligence™. To learn more about Kanvas, please visit http://www.TheKanvasCo.com.