Cannabis startup Sanity Group secures €4M in funding
German cannabis-based items producer Sanity Group has secured €4 million from American rapper, producer and songwriter Will.i.am, actress Alyssa Milano, TV moderator Klaas Heufer-Umlauf, professional footballer Mario Götze, ex-footballer Dennis Aogo, sports expert Jonas Hummels, and German model Stefanie Giesinger, Starting Up writes.
Founded in 2018 by Finn Hänsel and Fabian Friede, Sanity Group is dedicated to the medical and health use of cannabinoids. The startup has a goal to improve people’s quality of life through the sensible use of cannabis in Europe, it said. In addition to pharmaceuticals, Sanity Group focuses also on cannabinoid-based wellbeing and cosmetic products.
Sanity Group’s portfolio includes Vayamed, a company that develops and sells medicinal cannabis products to pharmacies and clinical institutions, and CBD or cannabidiol lifestyle brand called VAAY. In addition, Sanity Group has previously created its second CBD cosmetics brand under the name This Place.
The proceeds will be invested in the wellbeing products development, as well as in launching VAAY in Great Britain.