Berlin-based cannabis start-up Sanity Group has closed a $44.2M USD Series A financing round with new investment led by Swiss venture capital firm Redalpine along with US-based Navy Capital and SOJE Capital. This represents the largest round of cannabis funding in Europe to date and brings total investment in Sanity Group to $73M USD.
Sanity Group is a diversified cannabinoid company focussing on pharmaceuticals, wellbeing and cosmetic products. The company was founded in 2018 by Finn Age Hänsel and Fabian Friede and now employs a team of over 90 people at its headquarters in Berlin and the research site near Frankfurt am Main. The Sanity Group brands are Vayamed (pharmaceuticals), VAAY (CBD products) and This Place (functional cosmetics).
The new funding will be used primarily to further expand the medical division of Sanity Group in Europe. Funds will also be used for the build out of EU-GMP-compliant research and production facility new Frankfurt am Main for the entire Group, which will serve both the medical and the wellbeing areas of the Sanity Group in the future, and to expand Sanity Group’s consumer goods business. Sanity Group currently employs 90 employees in Europe including cannabis experts, physicians, pharmacists and biologists.