Startups downplay tobacco as they talk up cannabis

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Shops patronized by pot smokers have a long tradition of labeling their pipes and vaporizers “for tobacco use only.” But startups developing smoking and vaping gear are basically asking customers to put their weed in it.

Self-described cannabis product companies are raising capital in droves, while funding for startups in the e-cigarette space has all but, well, vaporized. Not a single company that mentioned tobacco, cigarettes or e-cigarettes in its Crunchbase profile raised a disclosed funding round in the past year. By contrast, at least 45 self-described marijuana and cannabis companies did.

Now, it’s true e-cigarettes were never exactly a smoking hot sector for funding. However, companies in the space do have some history of raising capitalNJOY, an e-cigarette brand launched in 2006, for instance, raised a total of $165 million in private equity funding and closed its last round in 2014 with a reported $1...

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