Snoop Dogg’s Casa Verde has led a €13.2 million funding boost for Cansativa Group – a German medical cannabis distribution startup that is becoming a European market leader. Argonautic Ventures and Munich‐based family office Alluti also participated in the round.
Founded in 2017, Cansativa is building the ‘Amazon’ of cannabis for Europe, offering its customers a B2B platform to manage every stage of the value chain. In addition to importing and distributing a wide variety of cannabis products, the Cansativa platform enables market access while providing a host of ancillary logistics services, making it one of the most holistic and sophisticated cannabis ecosystems in the world.
Jakob Sons, Founder and Managing Director of Cansativa Group, explained: “Our goal is to simplify cannabis commerce in the rapidly‐growing and evolving European environment. By ensuring product availability and offering flexible ancillary solutions, the Cansativa platform will soon be Europe’s one-stop-shop for all things cannabis.”
We talked to Jakob Sons at the start of this year about his journey in this niche industry, and he reflected on the mission to make medical cannabis more accessible.
Cansativa is working to raise the profile of medical cannabis and to make it usable as an option for treatment – driving a new era of legal adult-use cannabis in Germany and across Europe. The German market for medical cannabis has several stakeholders – Cansativa brings them together into a strong network, offering standard products from many international manufacturers. In this way, they can ensure security, transparency and choice from one single source.
Given its exclusive relationship with German regulator, the Federal Institute for Drugs and Medical Devices (BfArM), Cansativa is currently the only company permitted to distribute domestically-grown medical cannabis.
Benedikt Sons, Founder, Managing Director and CEO, commented: “This investment from Casa Verde, one of the industry’s preeminent cannabis venture firms, is a significant milestone for our company and sends a strong message to the European cannabis industry. It will allow us to realize our ambitious vision to become the operating backbone for cannabis retail in Germany. With Germany poised to become the largest economy in the world to fully legalize, we will play a vital role in enabling simple and safe access to cannabis for everyone.”
The company will use the funding to expand its medical cannabis product portfolio and build out its recreational platform ahead of legalization in Germany.
Photo Courtesy: Main Stage News, Yahoo News
Source: EU Startups
