Berlin-based cannabis start-up Sanity Group announced today it has closed a $44.2M USD Series A financing round with new investment led by Swiss venture capital firm Redalpine along with US-based Navy Capital and SOJE Capital. GMPVC also participated in the round. This represents the largest round of cannabis funding in Europe to date and brings total investment in Sanity Group to $73M USD. An expanding position as a leading cannabis company in Europe Sanity Group aims to improve people’s quality of life through the use of cannabinoids. In addition to pharmaceuticals, the focus is also on wellbeing and cosmetic products. The new capital will be used primarily to further expand the Group’s medical division in Europe. Funds will also be used for the build-out of the EU-GMP-compliant research and production facility new Frankfurt am Main for the entire Group, which will serve both the medical and the wellbeing areas of the Sanity Group in the future, and to expand Sanity Group’s consumer goods business.
Published Ncv Newswire, New Cannabis Ventures, 06/15/2021 08:44:00