Sanity Group raises 35 million euros

The business with the use of CBD is booming. At the forefront in Germany is the start-up Sanity Group. ProSiebenSat1 and Klaas Heufer-Umlauf are also on board as investors.

Originally, it was only supposed to be 25 million euros, then the interest was so great that Sanity Group has collected 35 million euros in its current financing round. The round is led by VC Redalpine, with US venture capitalist Navy Capital, cannabis-only investing fund SOJE Capital and GMPVC also on board. There is also a long list of existing investors: HV Capital, TQ Ventures, Atlantic Food Labs, Cherry Ventures, Calyx, Bitburger Ventures and SevenVentures.

The investment will further expand Sanity Group's medical cannabis use and invest in research. Currently, the startup is building a center for research and development near Frankfurt to make as many ingredients of the cannabis plant commercially viable as possible.

Founded in 2018, the start-up is best known for its VAAY and This Place brands, which sell lifestyle products such as bath oils and creams containing CBD. Sanity Group sells pharmaceutical uses of CBD through a company called Vayamed.

The founders are Finn Hänsel and Fabian Friede, who met through Rocket Internet. Only in March, the investment arm of the ProSiebenSat1 Group invested in the start-up, and last year Sanity Group was able to attract four million euros from prominent investors such as Mario Götze, Klaas Heufer-Umlauf and Stefanie Giesinger.