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Jay-Z Invests In Flowhub, A Cannabis Tech Company With A Valuation Of Over $200M

Just last year, Hip-Hop billionaire Jay-Z made his grand entrance into the cannabis industry with the launch of Monogram, in partnership with Caliva, as AfroTech previously reported. Now, the billionaire is hungry for more as he embarks on a new investment in Flowhub — a cannabis technology company — a retail point-of-sale platform for dispensaries. The news broke on Oct. 12 as Flowhub closed on a $19 million round of strategic funding joined by Jay-Z and led by Headline and Poseidon, according to PR Newswire. The valuation for the company now totals nearly $200 million to date. “We are thrilled to announce this capital raise. Headline is an incredible Silicon Valley-based venture capital firm, Poseidon is a pioneer investor in the cannabis industry and Jay-Z is a cultural and creative global force no matter the industry he is involved in,” Kyle Sherman, founder and CEO of Flowhub, revealed in a press release. “I couldn’t think of a better group to be working with as we take this...

Oct 12, 2021