Ten million US dollars for cannabis start-up Bloomwell

A US billionaire invests in the Frankfurt-based company. The company is backed by prominent figures from the German cannabis scene.

The Frankfurt-based cannabis start-up Bloomwell has received ten million US dollars from prominent US investors. Among those involved in the financing round is the Measure 8 Venture Partners fund, which is backed by billionaire Boris Jordan. The Russian-born businessman also becomes a member of the supervisory board.

The Bloomwell empire also includes the hemp retailer Ilios Santé and the telemedicine start-up Algea Care. Algea in particular is set to benefit from the million-euro injection. The company offers pain patients who want to be prescribed medical cannabis teleconsultation with doctors. "Germany is the leading European market for medical cannabis and the Bloomwell Group has proven within a year that it can identify and scale innovative solutions in a new growth market for the benefit of patients," said lead investor Jordan, explaining his investment.

Bloomwell is backed by well-known names. One of them is Niklas Kouparanis, former manager at cannabis company Farmako, which made headlines a few years ago due to various problems. Kouparanis is now CEO at Bloomwell. Alongside him, his sister Anna-Sophia Kouparanis is also involved, as well as doctor Julian Wichmann and investment banker Samuel Menghistu. The management team also intends to use some of the new capital for further acquisitions.