BERLIN – Berlin-based cannabis start-up Sanity Group announced today it has closed a $3.5M follow-on investment from Casa Verde Capital, representing a second closing of the company’s $45M Series A financing round. This brings total funds raised by Sanity Group to $76.5M to date, the highest level of funding attained by any European cannabis start-up. It is also Casa Verde’s first investment into Germany, the largest and most profitable medical cannabis market in Europe.
“We are proud to welcome Casa Verde as our latest shareholder and we are delighted to have the backing of the cannabis industry’s pre-eminent venture firm. Casa Verde’s commitment to Sanity Group and to Germany further confirms we are on the right strategic path. It is also evidence of growing momentum in the European market as more countries move to initiate pilot projects to legalize and improve access to medical cannabis programs,” says Finn Hänsel, founder and managing director of Sanity Group.
Fabian Friede, who co-founded the company with Hänsel in 2018, adds: “We are excited to benefit from Casa Verde’s vast expertise and experience in the US cannabis market. Yoni Meyer and Karan Wadhera have been a crucial part of our journey since the announcement of our seed round two years ago. We are now pleased to officially expand our collaboration with them through Casa Verde’s direct stake in our business.”
Sanity Group will use the additional investment to advance medical cannabis research and expand its own business, including the development and distribution of medical cannabis and finished medicinal products, as well as its consumer health division through its VAAY and This Place brands.
“We have watched Sanity Group’s growth trajectory closely for the last two years. The Company’s leadership, track record and vision clearly set it on the right path to becoming a leading European cannabis brand,” says Yoni Meyer, Partner at Casa Verde.
Casa Verde joins Sanity Group’s notable investor community, including Swiss VC Redalpine, German HV Capital, Calyx, SevenVentures, Bitburger Ventures, and prominent business angels such as Black Eyed Peas frontman Will.i.am, Hollywood actress Alyssa Milano, music producer Scooter Braun and German soccer player Mario Götze.
About Sanity Group
Sanity Group aims to improve people’s quality of life through the sensible use of cannabinoids and the utilization of the endocannabinoid system. In addition to pharmaceuticals, the focus is also on wellbeing and cosmetic products based on cannabinoids. Sanity Group was founded in 2018 by Finn Age Hänsel and Fabian Friede and now employs a team of over 120 people.
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.