Legendary Producer L.A. Reid and Burna Boy Invest In Minority-Owned Tech Company MOON Ultra
Grammy Award-winning record producer L.A. Reid and Grammy Award-winning recording artist Burna Boy are new investors in the minority-owned tech company MOON Ultra, according to Business Wire.
A Dec. 8 press release announced that the Austin, Texas electronics company raised $15 million in series B funding, partly from Reid and the recording artist. MOON Ultra is a portable lighting device with controls to change brightness and tone. TIME Magazine called the light one of the “Best Inventions of 2020.”
The company was founded by CEO Edward Madongorere and Dishen ‘Dixon’ Yang. Madongorere, who was born in Zimbabwe, was inspired to create the device by his son with autism. His design for the MOON UltraLight easily enhances the way users take pictures and videos. Reid said he was honored to invest in MOON Ultra.
“MOON Ultra is a very cool and convenient tool designed to bring light to darker moments,” said Reid.
“I am honored to participate in the launch of this revolutionary lighting device. Ed is a brilliant designer who is destined to make his mark amongst the world’s great innovators.”
Burna Boy also noted his decision to invest with the company. “The MOON products are elegant and sophisticated, technical yet straightforward,” said the Nigerian singer.
“Knowing such an innovation was brought about by my fellow African brother is unique and inspirational.”
“More importantly, showing the next generation of African children that something like this is possible, is what innovations like these are all about.”
The “Bank On It” singer is one of many celebrities who’ve invested in the company. Comedian Steve Harvey and his daughter Lori Harvey are investors in MOON Ultra, as well as retired NFL star Emmanuel Acho. Harvey told Afrotech that it was important for him to partner with MOON Ultra.
“Everything they’re building serves to help and highlight Black culture,” said Harvey.
“They are developing amazing tools to enhance our mobile experiences. I am so excited to partner with my daughter, Lori Harvey, to ignite these innovative founders and their dynamic company.”
Other celebrity investors include actor Lamorne Morris, retired NBA star Baron Davis, former Baltimore Raven Ray Lewis, WNBA player Chinenye Ogwumike, director Wesley Armstrong, lifestyle influencer Sara Lovestyle Hood, soccer player Joe Willock, Noah Beck and others.