In the past few years, Europe has seen a shift in the legalization, cultivation, and trade of medical cannabis, prompting startups and entrepreneurs to take full advantage of these new opportunities. Not surprisingly, some have already begun to solidify in this emerging market. In addition, since much of Europe has been quarantined internally over the last months, more attention has been paid to eCommerce of CBD with home delivery.
From stress-relief chewing gums to pain-relief tampons induced with CBD, here are 10 startups that are changing the cannabis landscape in Europe.
Canamedical is a pioneer in medical cannabis. Founded in 2016, Germany’s only independent wholesaler of cannabis has established business relationships with about 3,500 pharmacies throughout Germany and claims to have the largest and most stable supply chain in the EU with access to 40,000 kilograms of medical cannabis.
In April 2020, the Cologne-based startup completed a strategic round of Series A investments worth €12 million.
In 2019, Oliver Davis, Oscar Fletcher, and Naeem Dungarwalla founded Blossom Genetics with the aim of using their expertise in growing and breeding soft fruits to develop genetics and medical-grade hemp products. At the moment, their portfolio consists of two different products: cannabis genetics and medical cannabis (a whole cannabis flower).
The London-based startup raised an initial round of funding ahead of a project led by Deepbridge Capital in April 2020 to speed up the process.
3. Grass & Co
By following the Life Enhanced by Nature philosophy, Grass & Co (founded in 2018) offers THC-free CBD oil specially blended using high-quality organic CBD and medicinal herbal ingredients. Divided into three categories: EASE, CALM, and REST, it promises to soothe stress and make you feel more relaxed.
In 2019, they signed an exclusive partnership with a luxury department store Selfridges, which will offer customers a range of CBD products from the Grass & Co EASE and CALM collections.
Founded in 2017 and headquartered in Berlin, Demecan is the only German company allowed to legally grow medical cannabis from 2020 onwards. According to the company, the first supplies of medical cannabis to German patients are scheduled for the end of 2020.
In 2019, the startup raised €7 million for the construction of their production facility in Dresden, and in May 2020 it was announced that the startup has attracted a seven-digit investment from a number of investors, including Bernhard Schadeberg, head of the Krombacher brewery.
Many of us have stressful lifestyles and are constantly searching for a way out of it. French startup Rainbow (founded in 2019) has combined ancient healing techniques with modern technology to create unique stress-relief products.
So far they have launched two wellness brands in the UK and France, Kaya and Peace & Skin. Kaya’s first product is relaxing chewing gum, while Peace & Skin helps people fight the effects of stress on the skin, using organic hemp-based and adaptogenic plant routine, which will be available as of September.
Amid the Coronavirus pandemic, Rainbow raised €1 million from private investors to tackle the problem of the century, which is stress.
Founded in 2018, this London-based startup is a socially conscious team hoping to encourage people to live better lives through its “CBD gold standard.”
With a focus on the health benefits of cannabis and backed by a team of doctors and scientists, their hand creams, balms, drops and capsules fit seamlessly into our daily lives. Their products are also eco-certified, are made using 100% recycled plastic, and have labels indicating whether they are vegetarian or vegan.
Under the motto “Shaping the Future of Cannabis”, NOBL opens up opportunities in the fields of cannabis data and media. Operating as a media, data, technology and consulting group, NOBL’s portfolio includes some of the most respected brands in the sector and hopes to catalyze positive change in the cannabis industry by bringing together leaders in the healthcare industry, politics, science, and business.
In early 2020, NOBL announced the closure of the Serie A round and raised €14 million in funding.
Founded in 2017, Daye creates a combined brand of femtech and cannatech to raise the standards of women’s health and bridge the gender gap in medical research. Their first product is a newly developed tampon that uses CBD (an extract from the flowers of an industrial cannabis plant legal against marijuana) to help manage recurrent cramps (or dysmenorrhea) as an alternative to traditional pain relievers.
So far, their 40+ team has raised about €5 million.
Founded in 2019, London-based startup Alphagreen is a leading online marketplace for tech-enabled CBD and alternative healthcare products. Having used CBD to alleviate both psychological and physiological ailments, A German co-founder Alexej Pikovsky realized there was a gap in the market for trustworthy and effective CBD products that go beyond oil and vapes. Now with a Ukrainian co-founder Viktor Khliupko they have grown to a 30+ employees company and landed €570K seed funding in February 2020.
10. Sanity Group
Founded in 2018 by German entrepreneurs and cannabis advocates Finn Hänsel and Fabian Fride, Sanity Group is currently working with two business units – Sanatio Pharma, a medical cannabis company that develops new treatments and pharmaceuticals, and VAAY, a wellness brand focused on the non-prescription lifestyle market based on CBD.
In February 2020, they announced the completion of a € 20 million funding round.