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The company was established in 2015 and has invested over 20,000 hours of research and development into creating Black Buffalo's eight products, which include five long-cut and three pouches varieties, all of which contain pharmaceutical-grade nicotine but no tobacco leaf or tobacco stem
Fremont, CA: Tobacco-free pharmaceutical grade nicotine product manufacturer Black Buffalo announced the closure of an oversubscribed growth capital round worth USD 9.75 million participated by key investors Pendyne Capital, Watchfire Ventures, and Open Pantry Food Marts. Proceeds from this investment round will be used by the company to expand its marketing presence, upgrade its manufacturing capacity, increase its online distribution, and launch into convenience stores and physical retail outlets nationwide. Black Buffalo's products are available for purchase online at BlackBuffalo.com for adult tobacco consumers age 21 and above.
"Black Buffalo's products were developed by a team that collectively dipped traditional smokeless tobacco products for over 60 years," says co-founder and President Mark Hanson, "and our guiding principle has always been that dipping is about much more than just nicotine delivery. It's also about the ritual: from the crack of the seal to the look and feel of the high-definition embossed tin to the rich, moist flavor of that first pinch or pouch. We believe that Black Buffalo offers the first true alternative for adult consumers looking to make the switch from the traditional dip, as evidenced by our tens of thousands of customers."
The company was established in 2015 and has invested over 20,000 hours of research and development into creating Black Buffalo's eight products, which include five long-cut and three pouches varieties, all of which contain pharmaceutical-grade nicotine but no tobacco leaf or tobacco stem. "One of the best parts of our initial e-commerce strategy has been having a direct relationship with our customers, whom we affectionately call 'the Herd.' Black Buffalo will always lead with product, but we're equally excited about the opportunity to continue to build upon our already strong brand," says co-founder and Chief Marketing Officer Jeffery David.
Proceeds from this round of investment have helped the company assemble Premarket Tobacco Product Applications for its entire product portfolio, which the company intends to submit to the U.S. Food and Drug Administration's Center for Tobacco Products in the coming months. Additionally, Black Buffalo has purchased and expects Q2 2020 delivery of a high-throughput pouch maker from one of the world's leading industrial manufacturers. With this additional equipment, the company will be able to satisfy demand from its adult customer base, of which nearly half are regular consumers of pouches products.