In the last couple of years, Europe has observed a shift in the legalization, trade and harvesting of medical cannabis, allowing startups and newly emerged companies to profit off of such opportunities. Interestingly, some have already developed ahead of other companies, taking initiatives and actions to get a head start in an emerging market.
Furthermore, with almost half of Europe behind closed doors due to COVID-19, home delivery for CBD has risen in the past couple of months. From CBD infused chewing gum for stress relief to sanitary products for pain alleviation, here are some of the upcoming cannabis tech startups based in Europe:
Founded in 2019, Alphagreen is a London-based startup popular in the online e-commerce industry for the sale of CBD and alternative healthcare products. With the experience of using cannabis products to relieve psychological and physiological ailments, the startup has grown to over 30 employees and landed seed funding of 570,000 Euros in February 2020.
With the emergence of many other cannabis tech startups, the European market continues to open its doors to conglomerates working individually and in partnership to expand the cannabis industry.
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With a concentration on medical cannabis, Cannamedical Pharma remains Germany’s first and only independent cannabis wholesaler. The company established business relations with over 3,500 pharmacies throughout the country and claims to have the largest and most-stable supply chain process in the European Union. They have access to over 40,000 kilograms of medical cannabis, which is sold under the company label and, in April 2020 alone, Cannamedical closed a 12 million Euro investment round.
Establishing their headquarters in Berlin during 2017, this startup is possibly the only German startup legalized to grow medical cannabis in the current year. According to the spokespersons of the company, they are scheduled to distribute their first supply of medical cannabis to German patients by the end of 2020. In the past, Demecan was able to secure promising investments for the construction of its production facility and the overall functioning of the startup.