Cannabis plantation in Saxony to grow

The start-up Demecan receives a further million euros in investment. It intends to use this to expand cannabis cultivation in Ebersbach near Dresden.

Berlin-based cannabis producer Demecan receives a high single-digit million euro 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. There are also other private and institutional investors who 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 and collaborate with pharmaceutical companies and smaller cannabis companies in the region. Demecan has been supplying medical cannabis since 2019, including for 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 Managing Director of Demecan. "That's why we not only focus on the cultivation of medical cannabis, but are also active in the field of research and develop new innovative dosage forms."

"Demecan has established itself early on as a leader in the medical cannabis market and we are convinced that it is ideally positioned to take a leading role in Europe as well," says Benjamin Krahmer, Managing Director of Futury.