Ray J closes $31 million deal to launch Raycon

The investors, Cowboy Wholesale, will market Raycon products


By Sequoia Blodgett, blackenterprise.com

We have been covering the story of Raytroniks for a while now and the company has just taken a massive leap forward. Ray J has recently closed a $31 million deal securing the launch of his electronics transportation company, now branded Raycon.

According to a recent press release, the $31 million deal, paid in the form of equity and cash, was finalized between the R&B artist/television personality and Cowboy Wholesale, a leading distributor of consumer electronics based in New York City.

Ray J’s company has been popularizing the Scoot-E-Bike, its foldable, two-wheeled electric vehicle. The bike was presented to a mass network of influencers, which allowed it to gain a good amount of traction in the market.

Read more at http://www.blackenterprise.com/technology/ray-j-closes-31-million-deal-launch-raycon/

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