National Basketball Association stars John Wall and Carmelo Anthony are new investors in a cannabis company.
The pair helped California-based LEUNE raise roughly $5 million in a round that includes NBA agent Rich Paul, entertainer La La Anthony, music manager Anthony Saleh (clients include Future and Nas) and venture capital firm Casa Verde Capital.
LEUNE said it would use the funds for marketing and expanding its products as it looks to capitalize on more states legalizing marijuana.
“Having their support through this crucial growth stage makes a world of a difference for a brand of our size, and we look forward to building one of the leading names in cannabis together,” said company CEO, Nidhi Lucky Handa. “These funds will be used to help us traverse new horizons — from developing new products to unlocking more geographies.”
LEUNE’s investment comes days after actor Jaleel White made headlines for starting his own cannabis line. White starred as Steve Urkel on the sitcom “Family Matters.” Former NBA star Al Harrington is also prominent in the cannabis space with his company, Viola. Harrington’s firm raised $16 million in October 2019. [Read more at CNBC]
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