Tiger Global Management and Tao Capital Partners led a $420m funding round in PAX.

Tiger Global Management, an American investment firm, and Tao Capital Partners, a venture capital firm, led a $420m funding round in PAX, an American electronic vaporizer company. "PAX is investing heavily in growing its brand as well as developing innovative new products to scale and capture an enormous opportunity. This financing round allows us to invest in new products and new markets, including international growth in markets like Canada and exploring opportunities in hemp-based CBD extracts. We aspire to be the gold standard for safety and good stewards of a product that enhances many people's lives. We are hiring and investing heavily in our people, who power PAX's mission of establishing cannabis as a force for good," Bharat Vasan, PAX CEO.