Germany just hit a new milestone in the space exactly where venture capital and the burgeoning cannabis business 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 grow to be the only German corporation permitted to make health-related cannabis in Germany.
This is a watershed moment for the nation and is the initial 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 household workplace, which is understood to have its roots in the customer goods sector. Only two other corporations, two of them from Canada, had been awarded the contract to make health-related cannabis in Germany in Might 2019.
– Study the complete post at Tech Crunch.