Bloomwell Group has successfully closed a seed funding round of over $10 million dollars—the highest publicly known seed investment for a European cannabis company to date. The lead investor is U.S. growth capital provider Measure 8 Venture Partners, specialists in cannabis industry investments. Among other investors, business angel Dr. Reinhard Meier is investing again through his Venture Capital Investors fund; and Philipp Weber of FPS acted as legal adviser to Bloomwell. Concurrent with the announcement, Bloomwell Group, which includes Algea Care, Europe’s leading telemedicine company for medical cannabis in terms of patient numbers, is repositioning itself as a holding company, allowing it to build, invest or acquire cannabis companies. Within a year, Bloomwell Group has grown to 160 employees, with projected revenues of 5 million euros in 2021. In addition to Kouparanis, CEO, entrepreneur and cannabis pioneer, the board is strengthened by telemedicine veteran Meier, who as founder, led Teleclinic to an exit, co-founder Samuel Menghistu and Boris Jordan, founding partner of Measure 8 Venture Partners.

Cannabis Business Times, 10/18/2021 14:08:00

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