BERLIN-based cannabis pharmaceutical and consumer health company Sanity Group has managed to attract big-name financial backers like Scooter Braun and Black Eyed Peas frontman Will.I.Am.
Now, the celeb favourite is adding another big investor to its roster: Snoop Dogg’s Casa Verde Capital.
Sanity Group has closed a $3.5 million funding round from Snoop’s venture capital firm. The round was presented as a follow-on investment to the company’s $45 million Series A round announced in June of this year.
Sanity Group continues in its enviable position as the most capitalized European cannabis startup, with a total of $76.5 million raised to date.
“We are thrilled to become Casa Verde’s first portfolio company in the German market and to welcome Casa Verde as a shareholder in Sanity Group,” said Finn Hansel, Sanity Group’s managing director.
“The firm’s investment pedigree and connections within the cannabis industry are unrivalled and will help us accelerate our goal to become one of Europe’s premier cannabis brands.”
@Earlier this month Casa Verde Capital invested $15 million into Portuguese medical cannabis company AceCann alongside Portuguese venture capital firm Lince Capital.