Fidelity has contributed to a series C round for the e-cigarette manufacturer.
US-based e-cigarette manufacturer Pax Labs attracted $46.7m yesterday for a series C round led by unnamed existing investors and including diversified financial conglomerate Fidelity Management and Research Company.
The round also featured Sivia Capital, Tao Capital Partners, Sand Hill Angels and a range of angel investors.
Originally named Ploom, Pax Labs produces a range of e-cigarette products, and will use the new funding to support an expansion in the US and internationally. The company also hopes to enter new verticals.
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