Demecan raises further money

The Saxon cannabis start-up receives fresh capital. According to its own information, the company thus 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 its own information, the company thus collected a total of 15 million euros in 2022. The money comes from existing shareholders such as the Frankfurt-based Futury Growth and Futury Venture funds and Btov's Private Investor Network. New venture capitalists also invested in Demecan, including Mittelständische Beteiligungsgesellschaft Sachsen and Swedish venture capital fund Enexis, which focuses on cannabis investments.

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

Adrian Fischer, Cornelius Maurer and Constantin von der Groeben founded Demecan in 2017, and 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.