According to a recent report by Reuters, Juul has raised approximately US$1.3 billion in funding.
Juul has been seeking financing to ensure its business grows. Earlier this year, the company announced a restructuring aimed at reducing operating costs. In April, the company agreed to pay $462 million over eight years to resolve charges from six U.S. states and the District of Columbia that it illegally marketed products to minors. Altria Group exited its stake in Juul some time ago and acquired Njoy Holdings for approximately $2.8 billion.