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 ...