US vaping brand JUUL has raised $325m to further fuel its rapid expansion in international markets.
This latest investment follows the $1.25bn the company raised a year ago to kick-start its growth.
Last December Altria Group – owners of Philip Morris – paid in the region of $12.5bn for a 35% stake in the fledgling business, which was founded in 2017.
Investors for this funding round were not disclosed.
The cash injection follows JUUL’s rapid rise to become the UK’s number one closed vaping brand after just eight months in the UK market.
After moving outside of the online and specialist vape shop market in November with Sainsbury’s, the brand proceeded to secure listings in several convenience outlets. It now has a 6.8% share of the total vaping market in traditional retail and 36.8% of sales of the top four closed pod systems (JUUL, myBlu, Vype Epen3 and Logic Compact).
