Germany just hit a new milestone in the space exactly where venture capital and the burgeoning cannabis market meet.
Berlin startup Demecan has completed a Series A financing round of €7 million to expand its production facility for health-related cannabis and the wholesale trade in Germany. It has develop into the only German organization permitted to create health-related cannabis in Germany.
This is a watershed moment for the nation and is the 1st investment in this sector for the private investor network connected to btov Partners (a VC). The other half of the funding came from a single German loved ones workplace, which is understood to have its roots in the customer goods sector. Only two other corporations, two of them from Canada, have been awarded the contract to create health-related cannabis in Germany in Might 2019.
– Study the complete short article at Tech Crunch.