Demecan raises further money

The Saxon cannabis start-up receives fresh capital. According to the company, it raised 15 million euros in 2022.

The cannabis start-up Demecan from Ebersbach in Saxony has once again received money from investors shortly before the end of the year. According to the company, it raised a total of 15 million euros in 2022. The money comes from existing shareholders such as the Frankfurt-based funds Futury Growth and Futury Venture and Btov's Private Investor Network. New venture capitalists also invested in Demecan, including Mittelständische Beteiligungsgesellschaft Sachsen and the Swedish venture capital fund Enexis, which focuses on cannabis investments.

Demecan intends to use the fresh capital to expand further. The production facility in Ebersbach near Grossenhain is to be further expanded. Services such as the processing of cannabis flowers can now be offered there. Demecan is also preparing for the possible imminent legalization of cannabis as a stimulant. Research will also continue to be funded. According to its own information, Demecan propagated plants for the first time in the Ebersbach cell laboratory using cell culture.

Adrian Fischer, Cornelius Maurer and Constantin von der Groeben founded Demecan in 2017. So far, the start-up has focused on the medical cannabis market. According to its own information, the company is the only independent German producer of medical cannabis and also the only company with approval to sell the product from German cultivation.