Cannabis plantation in Saxony to grow

The start-up Demecan receives another million euros as an investment. With this, it wants to expand cannabis cultivation in Ebersbach near Dresden.

Berlin-based cannabis producer Demecan receives a high single-digit million amount from a financing round. The new investors include the Futury Fund, but existing shareholders such as the btov Private Investor Network also participated again. In addition, there are other private and institutional investors, but they are not named in detail.

The money raised will be used to expand the facility near Dresden into "Europe's most modern facility for the cultivation and processing of medical cannabis," according to a company statement. The company also plans to establish a subsidiary in Hesse. Demecan wants to establish a "medical cannabis research cluster" in the state, working with pharmaceutical companies and smaller cannabis companies in the region. Demecan has been supplying medical cannabis since 2019, including to German patients.

"The nationwide supply of high-quality medical cannabis for the benefit of patients* in Germany is Demecan's mission," says Adrian Fischer, co-founder and CEO of Demecan. "That's why we not only focus on growing medical cannabis, but are also active in research and developing new innovative dosage forms."

"Demecan has been able to establish itself early on as a leader in the medical cannabis market and we believe it is ideally positioned to become a leader in Europe as well," said Benjamin Krahmer, Managing Director of Futury.