MedBox, the California-based software and biometrics developer for medicine dispensing systems, has raised $2.5 million, according to a filing with the SEC.
Specifically, MedBox is targeting the legal cannabis industry, where it’s pharmacy dispensing technology lets new customers fill out an application and present a state-issued medical marijuana card to pharmacists.
Then, they give a fingerprint sample to verify their identity after each purchase, and the use of biometrics helps dispensing units control how much medication is given to each customer.
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The Los Angeles company said its subsidiary, Medicine Dispensing Systems, has grossed $13 million since its founding in 2010. That allowed for an acquisition and the creation of a public company within MedBox on the OTC Markets.
It’s focus includes working with the pharmacies, alternative medicine dispensaries (chiefly the cannabis industry) and local governments.
The company is headed by CEO Guy Marsala, who was appointed to the position in June this year.
In addition to offering software and consultant services, MedBox, through another newly created subsidiary Vaporfection International, also offers what it calls a “medical vaporizer product.
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It is developing “ancillary services tailored to the alternative medicine industry: merchant services and armored transport for cash deposits, cannabidiol research and development, real estate acquisitions and subsequent lease programs to alternative medicine dispensary management services.”
