Carmelo Anthony and John Wall are behind LEUNE cannabis as new investors
It looks like two NBA stars now want to be the latest two athletes to get involved in the growing marijuana industry and try a direction that isn’t based on just putting balls in the hoop. NBA All-Stars Carmelo Anthony and John Wall were major participants in the latest round of funding for California-based LEUNE, according to multiple reports. At the end of this round, the company was able to raise $5 million, which also involved other big-name investors, including NBA super-agent Rich Paul, venture capital firm Casa Verde Capital and others.
LEUNE has been in the market for some time now and looks to continue to grow as time goes on, and it’s no secret that these proceeds will be a big help. Considering itself a cannabis lifestyle brand, the company will now allocate these funds to develop and improve its marketing, as well as expand its product line. Among its catalog, any enthusiast could find vaporizers, roll-ups, flowers, and more.
“These funds will be used to help us breakthrough new horizons, from developing new products to unlocking more geographies,” said the company’s CEO, Nidhi Lucky Handa. In addition, the company also indicated that another portion of the money will also be used to support its social justice initiative, an issue that has been a major focus throughout the marijuana industry.
Wall made it clear that cultivating a sense of community is a top priority, writing in an email, “I appreciate that LEUNE is not only a successful cannabis brand, but that it helps elevate marginalized voices through its ongoing social justice work.” On the other hand, Anthony’s wife, La La Anthony, said she had been looking to invest in a cannabis company that resonated with her personally.