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Kraft’s Venture Fund Invests in Cannabis Retail Platform Flowhub

Oct. 15, 2019, 1:50 PM

Kraft Heinz Co.’s venture fund is investing in cannabis technology firm Flowhub as the struggling food company seeks a new avenue for growth.

Evolv Ventures, together with VC firms E.Ventures and Poseidon Asset Management, led an oversubscribed $23 million Series A funding round for Denver-based Flowhub, which sells retail management software to the pot industry. The financing is one of the largest to date for a cannabis tech company and marks Evolv’s first investment in the sector.

Kraft Heinz, seeking a growth strategy after it failed to acquire Unilever in 2017, launched Evolv to invest in tech startups, putting...

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