Snoop Dogg invests again in Sanity Group

The Berlin-based cannabis start-up collects venture capital from investors and raises a total of 36.7 million euros.

The Berlin-based cannabis start-up Sanity Group has raised a total of 36.7 million in its Series B financing round and was once again able to convince its prominent investor Snoop Dogg to invest money in the company via the US company Casa Verde. However, the round was led by British American Tobacco (BAT), a new company. Redalpine is also involved. Together with previous financing rounds, the Berlin start-up has already raised 100 million euros. First reported by the Handelsblatt first reported on this.

The Sanity Group specializes in the sale of medical cannabis and also wants to expand its own product portfolio in this area. In addition, the new millions are to flow into the recreational cannabis business. The start-up is relying heavily on the legalization of cannabis in Germany, which the coalition government under Federal Health Minister Karl Lauterbach (SPD) is currently working towards. However, the final opening of the market could still take years.

Founded in 2018, the start-up is already known for its brands VAAY and This Place, which sell lifestyle products such as bath oils and creams containing CBD. The founders are Finn Hänsel and Fabian Friede, who met through Rocket Internet. In addition to the investment arm of the ProSiebenSat1 Group, the start-up has now attracted prominent investors such as Mario Götze, Klaas Heufer-Umlauf and Stefanie Giesinger.