Cansativa Group has closed a $15 million Series B investment round.
The funding round was led by Casa Verde with participation by Argonautic Ventures and Munich-based family office Alluti, and it represents Casa Verde's largest investment in Germany and in Europe to date.
Cansativa Group has closed a $15 million Series B investment round.
The funding round was led by Casa Verde with participation by Argonautic Ventures and Munich-based family office Alluti, and it represents Casa Verde's largest investment in Germany and in Europe to date.
Why It Matters?
The company will use the funding to expand its medical cannabis product portfolio and build out its recreational platform ahead of legalization in Germany.
As one of Germany's largest cannabis businesses, Cansativa is building the 'Amazon' of cannabis for Europe, offering its customers a B2B platform to manage every stage of the value chain from importing goods to distributing them to thousands of pharmacies across the country.
Given its exclusive relationship with German regulator, the Federal Institute for Drugs and Medical Devices (BfArM), Cansativa is the only company permitted to distribute domestically-grown medical cannabis.
"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 market," Benedikt Sons, founder, managing director and CEO of Cansativa Group, said. "It will allow us to realize our ambitious vision to become the operating backbone for cannabis retail in Germany and to play a vital role in enabling simple and safe access to cannabis for everyone."
What’s Next?
"Our goal is to simplify cannabis commerce in the rapidly-growing and evolving European environment,” Jakob Sons, founder and managing director of Cansativa Group, said. “By ensuring product availability and offering flexible ancillary solutions, the Cansativa platform will soon be Europe's one-stop-shop for all things cannabis."
Photo: Courtesy of Sharon McCutcheon on Unsplash
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