Cansativa raises millions in Series A funding

The money comes from Canadian investor Greenfield, who wants to support the Hessian cannabis start-up in its further growth.

Start-up Cansative receives a seven-figure investment from Greenfield. The Canadian investment house is known for its financing of cannabis producers. "Greenfield Global Opportunities Fund has expert knowledge and access to a resilient network thanks to its global holdings in the cannabis market," Benedikt Sons, co-managing director and co-founder, said of the new investor to Frankfurt station. "Already at the first meeting it became clear that we share the same understanding of the market and its challenges, but also the same mentality."

Cansativa from Mörfelden-Walldorf is the German industry leader for medicinal cannabis and produces more than 100 kilograms of cannabis flowers per month. The start-up holds the exclusive distribution rights for cannabis grown in Germany. "With the market's broadest portfolio and tailor-made solutions for import, storage and distribution of narcotics, we have been able to contribute decisively to the development of the industry and pave the way for a large number of companies to enter the German cannabis market," Sons said in a company statement. "The completed financing round allows us to continue this growth path and steadily develop our company."

Cansative plans to enter new business areas, as well as expand its import and wholesale platform. It will also use the money to expand its warehouse and buy a new cleanroom facility. This year, the company aims to sell more than two tons of cannabis flower for the first time, generating double-digit million-dollar sales across the company.