German startup Sanity Group, one of Europe’s leading medical cannabis and wellness brands, has announced the completion of a €20.1 million Series A funding round.
The round was led by Calyx, a European Cannabis-focused investment fund, and HV Holtzbrinck Ventures, one of Germany’s largest Venture Funds. Among the participants were also Karan Wadhera (managing partner at Casa Verde), TQ Ventures (Scooter Braun’s investment fund) and Cherry Ventures. This investment represents the largest cannabis financing round in Europe to date.
Sanity Group, founded in 2018, is unlocking the potential of cannabinoids to develop innovative cannabinoid-based pharmaceuticals and wellbeing products. The company was created by German entrepreneurs and cannabis advocates Finn Hänsel and Fabian Friede, and aspires to become a market leader in the fast-growing German and European cannabis markets. It’s fully licensed and is currently operational with two business units, Sanatio Pharma, a medical cannabis company devoted to the development of new therapies and pharmaceuticals, and wellness brand, VAAY.
“Sanity Group is not only investing in the wholesale of medical cannabis but also in research, internationalization, drug approval, alternative dosage forms and the use of cannabinoids for wellness products, including cosmetics,” says Managing Director Finn Hänsel. “Our aim is to become number one in Europe, a market that some believe could surpass North America in size and volume, depending on the progress of legalization across the European continent.”
The lead investors were joined by existing investors Atlantic Food Labs and several angel investors, including the founders of the well-known German advertising agency HEIMAT. The funds will be used to drive forward strategic projects to give people better access to medical and medically-related cannabis products.
“Sanity Group has quickly established itself at the forefront of innovation in Germany, the fastest growing cannabis market in Europe,” says Karan Wadhera, Managing Partner, Casa Verde Capital. “With a strong penetration into pharmacies across Germany, a multitude of THC and CBD formulations serving the medical cannabis segment, an array of well-being products already in market, and an assembled team of world-class scientific and operational experts, we believe the company is well-positioned to become a global leader in both the medical cannabis and wellness categories.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
