Sanity Group: Berlin cannabis start-up raises €20 million

Sanity Group, a Berlin-based cannabis startup, announced in February that it had raised 20 million euros to fund its growth. Among the investors is Scooter Braun, who launched Justin Bieber, and Karan Wadhera, who is attending at his own expense but works for Casa Verde Capital, the investment fund of Snoop Dogg.

This fundraising round represents the Largest cannabis funding in Europe to date.

Sanity Group currently operates through two brands: Sanation Pharma, which specializes in the import and distribution of medical cannabis in Germany, and VAAY, a brand of CBD products.

«This investment will fuel critical growth for the company, enabling us to provide more people in Germany and across Europe with access to medical cannabis products,» said Finn Hänsel, CEO of Sanity Group. «We aim to be number one in Europe in terms of revenue and market share.»

«Sanity Group is investing not only in the wholesale distribution of medical cannabis, but also in research, international expansion, drug approval, alternative dosage forms, and the use of cannabinoids in wellness products, including cosmetics,» said declared Hänsel.

«With strong penetration in pharmacies throughout Germany, a wide variety of fTHC and CBD formulations With a focus on the medical cannabis segment, a line of wellness products already on the market, and a team of world-renowned scientific and operational experts, we believe the company is well-positioned to become a global leader in the Medical Cannabis and Wellness Categories«, he added.”.

Holtzbrinck Ventures, Atlantic Food Labs, Calyx, and other business angels had already invested in Sanity Group during a previous funding round, confirming the Outlook for the European cannabis market.