Sanity Group founders Finn Hänsel and Fabian Friede
It is our pleasure to announce that Redalpine led the current €35m Series A round in Sanity Group (Redalpine Capital IV). Besides Redalpine, the two US investors Navy Capital and cannabis specialist SOJE Capital joined alongside Oliver Samwer (GFC), GMP VC and existing investors. This financing round is the largest financing that went into a European Cannabis-focused company reported to date.
The proceeds of the round will be employed primarily to expand the group's medical & consumer goods divisions and to build out its position as the premier European cannabis company. To this end, Sanity Group is currently building its own EU-GMP-compliant research & production facility for cannabis extracts ‘made in Germany’.
Sanity Group unlocks the benefits of cannabis for health and wellbeing and renders cannabis and derived products widely accessible to consumers and patients in Europe. Scientific discoveries and their medical potential are redefining the way society, politics and the medical community think about cannabis as a plant. Amidst the ongoing legalization for medical and recreational purposes in North America and all around the world, Europe is following its own path: Medicinal cannabis is already legally available in most European countries, but regulations are very individual and not harmonized across the EU. Born out of Europe’s biggest market for cannabis, Germany, Sanity Group specializes in the regulations and healthcare systems of European countries.
Redalpine is thrilled to become part of Sanity’s journey and support the management in their decision making from now on.
For more information please visit Sanity Group’s website and read this TechCrunch or Süddeutsche Zeitung article.