DEMECAN closes successful financing round

DEMECAN secures new capital to strengthen pharmacy distribution and drive internationalization in the growing medical cannabis market
Berlin, Ebersbach, August 2024 - DEMECAN has successfully closed a significant financing round. With the newly acquired funds, the company plans to strengthen pharmacy distribution through innovative SaaS solutions and the online pharmacy platform herbery-de. In addition, the company plans to drive forward its internationalization and invest in product innovations.
Support from international investor
The financing round was led by Trog Hawley Capital from Florida, the first institutional US investor in DEMECAN. The investment underscores DEMECAN's position as a market leader and the potential of the German medical cannabis market. Trog Hawley Capital brings over 10 years of experience in building and investing in US cannabis companies and sees great potential in the European market.
Growth opportunities in the medical cannabis market
Jörg Sellmann, Managing Director of DEMECAN, sees the financing round as a milestone for the company. The additional funds will be used to further exploit production capacities and to drive the company forward in a phase of regulatory-supported growth. Since the reclassification of medical cannabis in April, positive earnings figures have already been achieved, which are to be further increased by the full utilization of production capacities.
The participation of new investors from the USA shows that our approach and vision are being recognized internationally.
Dr. Constantin von der Groeben, Co-Founder and Managing Director DEMECAN
Adam Ryan, CEO of Trog Hawley Capital, emphasizes the exceptional growth prospects in the European cannabis market, especially in Germany. DEMECAN's broad footprint with production facilities and advanced laboratory and processing capabilities positions the company as a frontrunner in the industry. The partnership with Trog Hawley Capital will support DEMECAN in its next phase of growth.
Things to know about DEMECAN
DEMECAN is an independent German company that covers the entire medical cannabis value chain - from cultivation to pharmaceutical production and delivery to pharmacies. The company was founded in 2017 and has established itself as a pioneer in the German cannabis market. With the highest quality and safety standards in production, DEMECAN contributes to improving patient care in Germany and Europe. As early as 2022, we reported on the Startbase about fresh capital for the start-up.

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