Sanity Group, one of Europe’s leading medical cannabis and wellness brands has announced the completion of a €20 million cannabis financing round led by Calyx.
Calyx is a European cannabis-focussed investment fund and HV Holtzbrinck Ventures, one of Germany’s largest Venture Funds. Among the participants were Karan Wadhera (managing partner at Casa Verde), Scooter Braun’s investment fund TQ Ventures and Berlin-based Cherry Ventures.
This investment represents the largest cannabis financing round in Europe to date.
European cannabis markets
Sanity Group aspires to become a market leader in the fast-growing German and European cannabis markets. The company, founded in 2018 by German entrepreneurs and cannabis advocates Finn Hänsel and Fabian Friede, is fully licensed and 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.
Managing Director Finn Hänsel said: “Sanity Group is not only investing in the wholesale of medical cannabis but also in research, internationalisation, drug approval, alternative dosage forms and the use of cannabinoids for wellness products, including cosmetics.
“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 legalisation across the European continent.”
The lead investors are joined in the $22m in capital raise by existing Sanity Group 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.”