New York, April 20, 2022 (GLOBE NEWSWIRE) — The Blinc Group Inc., the regulatory-focused designer and provider of premium, customized and bespoke vaporizer technologies, is proud to announce it is one of the Arcview Collective Fund’s best performing portfolio companies for 2021.
“As a result of this investment, in 2021 the Blinc Group has more than doubled its revenue and proven why we are the leading provider of vape technology. Our team puts quality and safety at the forefront of everything we do. The ‘Powered by Blinc’ trademark is more than just a slogan – it’s a promise to our customers that they are receiving the highest quality vape technology, guaranteed,” said Arnaud Dumas de Rauly, co-founder and CEO of the Blinc Group.
In late 2020, the Blinc Group closed on a convertible note round, including the investment from the Arcview Collective Fund, and saw a 134% increase in revenue, a 77% increase in the number of clients, and a 32% increase in revenue per client in 2021 as compared to 2020. Blinc expanded its sales team, opened an office in Toronto, expanded its team in Shenzhen, China, and invested in the research and development of new innovative materials and vape technologies a number of which launched in early 2022.
“The Blinc Group has been a great investment for the Arcview Collective Fund. We look for companies that are raising the bar in the cannabis industry and true market leaders, the Blinc Group is just such a company,” said Jeffrey Finkle, CEO of the Arcview Group.
The Arcview Collective Fund is a member managed venture fund whose members range from experienced angel investors and partners in venture capital funds to executives who make decisions on how the fund is run and in which companies to invest funds.
“This past year we finally saw the light at the end of the tunnel with the Covid-19 pandemic and are so thankful for our team and all our investors who worked everyday to make the Blinc Group successful during that difficult time. The dedication of our team demonstrated to our clients that we are more than just a hardware supplier, but a trusted partner,” added Dumas de Rauly.
The convertible note round, which closed in late 2020 was led by 7thirty Capital, Equitas Partners Fund and WGD Capital, LP, with The Arcview Collective Fund and the Panther Opportunity Fund both participated as well.
About the Blinc Group
Headquartered in New York City, the Blinc Group designs, develops, supplies, and supports premium cannabis vaping hardware. The company offers a curated collection of proven cartridges, batteries, ready to use vaporizers and complete bespoke device development to multi-state operators, licensed producers, and brands. Blinc completes the value chain by providing its clients access to a suite of support services ranging from research and development, production, testing, standard operating procedures, training and all the way to go-to-market strategy and brand communications consulting. With full control of the supply chain, the company’s unique “Powered by Blinc” process enables clients to provide innovative, safe, and quality-controlled products to cannabis consumers worldwide.