Sanity Group, a medical cannabis and wellness company headquartered in Berlin, has completed?what it is calling the?largest round of cannabis financing in Europe to date.
The round was led by Calyx, a European cannabis-focused investment fund, and HV Holtzbrinck Ventures of Germany, Sanity said in a news release.
Sanity said it aspires to become a market leader in the German and European cannabis markets.
“Sanity Group is not only investing in the wholesale of medical cannabis but also in research, internationalization, drug approval, alternative dosage forms and the use of cannabinoids for wellness products, including cosmetics,” H?nsel, the company’s managing director,? said in the release.
Sanity’s two business units include:
- Sanatio, a medical cannabis importer and distributor.
- Vaay, a wellness brand that offers different CBD products.
Germany, the largest medical cannabis market in Europe, will remain totally dependent on imports until at least the end of 2020.
Several importers and distributors were responsible for importing 6,714 kilograms?(14,802 pounds) of medical cannabis flower to Germany in 2019, primarily for pharmacy dispensing.