Apr 2, 2020   SOURCE: PR NewsWire

Philter Labs, First and Only Tech-Enabled Filtration Company, Announces $1M of New Funding

SAN DIEGO, April 2, 2020 /PRNewswire/ -- Philter Labs -- the first and only technology-enabled filtration company to pioneer a new category of micro-sized personal air filters to eliminate the impacts of secondhand smoke -- today announced $1 million in new funding as part of a series of upcoming funding rounds to support growth, research and development, and the launch of new leading-edge filtration products. The San Diego-based company has half a dozen filed patents in the works -- and two recently approved to support a line of first-of-its-kind and environmentally friendly products the company plans to announce in the coming months.

"PHILTER's mission is to empower responsible adults with the choice to keep the air clean for those around them by filtering their emissions while still protecting a person's right to vape," said Philter Labs CEO Christos Nicolaidis. "This new funding allows us to continue to leverage science and our patented technology to eliminate secondhand smoke, reduce waste, and live out our mission to help lead a cultural shift for cleaner air and a better environment."

In 2018 and 2019, Philter Labs, Inc. received $1 million in seed financing from Bravos Capital and Explorer Equity. The company also received another $1 million in development capital from a private equity firm that invests in the cannabis industry, bringing total funding to $3 million to date. The company is currently engaged in a pre-Series A funding round to accelerate product development and support launches of new, first-of-its-kind products.

"PHILTER is revolutionizing the way people vape," said Cody Shirk, Managing Partner at Explorer Equity Group, a private equity firm that invests in global emerging trends in technology and cannabis. "PHILTER is empowering people to vape responsibly while also offering a product that is safe for non-users and the planet -- the sky's the limit for the company's growth and potential."

Studies show that 1 in 20 adults now vape. Secondhand smoke causes approximately 7,330 deaths from lung cancer and 33,950 deaths from heart disease each year. Despite helping to reduce waste from cigarettes, vapers are acutely aware of the health effects, the social and environmental impact of secondhand smoke, and the stigma associated with their actions. But, the vaping industry at large has failed to offer a solution that respects a person's right to vape and the rights of those who do not.

To address the issue, PHILTER launched their first tech-enabled filtration device for vaping that utilizes a patented five-step filtration process that manipulates smoke and vapor at the molecular level to dissipate emissions and dissolve harmful particulates and pollutants. In addition, the company recently launched replaceable cartridges for PHILTER devices that aim to make consistent "philtering" economical and to cut down on plastic waste.

PHILTER recently announced the formation of their Strategic & Scientific Advisory Board (SSAB), which provides short and long-term business counsel and advises the team on technical and strategic initiatives to expand the company's impact on mitigating secondhand smoke. The SSAB includes participation from:

    --  Josh Campbell, CEO of Human Improvement (hi!), former President of
        Dosist
    --  Jenny Diggles, CSO of Dalwhinnie Group, former VP of Strategy Cura
        Partners, Inc. (Cura Leaf)
    --  Dr. Willie J. Mckinney, Ph.D., Diplomate of the American Board of
        Toxicology (responsible for oversight of all science teams and
        research), former VP Global Regulatory Affairs at JUUL
    --  Dr. Michael Werley, Ph.D., Diplomate of the American Board of
        Toxicology, world renowned expert toxicological evaluation of aerosols,
        former Principal Scientist for Altria, Inc.

To encourage and support safe consumption during these critical times, people can use code "CV19" at checkout on PhilterLabs.com to receive 50% off their PHILTER purchase until April 15th. To learn more about Philter Labs and PHILTER products, visit: PhilterLabs.com.

ABOUT PHILTER LABS: PHILTER Labs, Inc. is a technology company creating advanced solutions for the modern-day vaper. Pioneering a new category of personal filtration accessories, PHILTER Labs, Inc. invented Zero-5(TM)? Technology, the first-of-its-kind, scientific process to eliminate smoke and vape through a series of molecular changes. This lab tested patented process reduces emissions by as much as 95%, Offering practical, reliable products that encourage conscientious, universally acceptable vaping practices, PHILTER(TM)? is on a mission to serve as a catalyst for necessary and impactful social and environmental change. For more information please visit PHILTERLabs.com.

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SOURCE Philter Labs