The largest medical cannabis distributor in Germany readies for expansion into the recreational market
FRANKFURT, Germany, Feb. 16, 2022 /PRNewswire/ – Cansativa Group announced today it has closed a $15M Series B investment. The funding round was led by Casa Verde with participation by Argonautic Ventures and Munich-based family office Alluti. This represents Casa Verde’s largest investment in Germany and in Europe to date.
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.
The company will use the funding to expand its medical cannabis product portfolio and build out its recreational platform ahead of legalization in Germany.
“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,” says Benedikt Sons, Founder, Managing Director and CEO of Cansativa Group. “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.”
“Cansativa is strategically positioned to become one of the leading cannabis platforms in Europe,” says Yoni Meyer. “The company combines crucial industry expertise with an ambitious vision and a rapidly growing success story. We firmly believe this team will play a central role in the expected legalization in Germany and have a decisive impact on the European market, projected to reach $3.6B by 2025.”
“Our goal is to simplify cannabis commerce in the rapidly-growing and evolving European environment. By ensuring product availability and offering flexible ancillary solutions, the Cansativa platform will soon be Europe’s one-stop-shop for all things cannabis,” says Jakob Sons, Founder and Managing Director of Cansativa Group.
About Cansativa Group
Cansativa Group is Germany’s largest medical cannabis distributor, one of the country’s largest cannabis businesses and a driving force within Germany’s rapidly evolving cannabis industry. The company’s B2B platform manages every stage of the cannabis value chain from import, to distribution and related logistics, serving thousands of pharmacies across the country. Through an exclusive agreement with Germany’s regulatory body, Cansativa is the only company permitted to distribute domestically-grown medical cannabis.
About Casa Verde
Casa Verde is the leading venture capital firm focusing on the cannabis industry. As both the domestic and international cannabis markets continue to evolve and mature, Casa Verde maintains a view that the cannabis industry will be among the most compelling investment themes of our generation.
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SOURCE Cansativa Group