Heuking advises Sanity Group on its EUR 35 million Series A financing round
A team led by Ariane Neubauer, Partner at the Berlin office of Heuking Kühn Lüer Wojtek, advised Sanity Group GmbH, a Berlin-based health and life sciences company focused on cannabinoids and natural active ingredients, on its Series A financing round.
The Series A financing round is led by renowned Swiss venture capitalist Redalpine along with U.S.-based venture capitalist Navy Capital, SOJE Capital, a fund that invests exclusively in cannabis companies, and GMPVC. Previous investors include HV Capital, TQ Ventures, Atlantic Food Labs, Cherry Ventures, Calyx, Bitburger Ventures, and SevenVentures.
The total investment from the seed phase, Pre-Series A, and Series A thus increases to over EUR 60 million. According to media reports, this is the largest round of cannabis funding in Europe to date.
The investment will be used to further expand the group’s medical division. After successfully establishing itself in the German market, Sanity Group aims to expand its medical division in Europe while also focusing on R&D. An EU GMP-compliant research and production facility for cannabis extracts ‘Made in Germany’ is currently being built for the entire group near Frankfurt am Main, which will serve the medical and the wellbeing divisions of Sanity Group in the future. In addition, the investment will also be used to expand the consumer goods business.
Founded in 2018, the startup is best known for its VAAY and This Place brands, selling wellness and lifestyle products such as bath oils or creams containing CBD ingredients. Sanity Group’s pharmaceutical CBD products are distributed through Vayamed.
Counsel to Sanity Group GmbH
Heuking Kühn Lüer Wojtek:
Ariane Neubauer (Venture Capital), Berlin
Dr. Oliver Böttcher (Venture Capital), Cologne
Shimon Merkel, LL.M. (Venture Capital), Berlin
Philipp Börger (Venture Capital), Berlin