German startup Cansativa closes $15m Series B to become the ‘Amazon’ of cannabis for Europe

German startup Cansativa closes $15m Series B to become the ‘Amazon’ of cannabis for Europe

Published: 17-02-2022 12:36:00 | By: Pie Kamau | hits: 2611 | Tags:

Cansativa Group announced it has closed a $15 million Series B investment 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.

Benedikt Sons, Founder, Managing Director and CEO, Cansativa Group: “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 industry. It will allow us to realize our ambitious vision to become the operating backbone for cannabis retail in Germany. With Germany poised to become the largest economy in the world to fully legalize, we will play a vital role in enabling simple and safe access to cannabis for everyone.”

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.

Yoni Meyer, Partner, Casa Verde: “Cansativa is strategically positioned to become one of the leading cannabis platforms in Europe. 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 $3.6 billion by 2025.”

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.

Jakob Sons, Founder and Managing Director, Cansativa Group: “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.”

The company will use the funding to expand its medical cannabis product portfolio and build out its recreational platform ahead of legalization in Germany.