Snoop Dogg invests again in Sanity Group

The Berlin-based cannabis startup raises venture capital from investors and gets a total of 36.7 million euros together.

Berlin-based cannabis start-up Sanity Group has raised a total of 36.7 million in its Series B funding round, again convincing its celebrity investor Snoop Dogg to put money into the company via US company Casa Verde. Leading the round, however, was British American Tobacco (BAT), which joined as a new company. Redalpine is also involved. Together with previous financing rounds, the Berlin-based start-up has already raised 100 million euros. First reported the Handelsblatt reported on this.

Sanity Group specializes in the sale of medical cannabis, where it also wants to expand its own product portfolio. In addition, the new millions are to flow into the business with cannabis for recreational use. In doing so, the start-up is relying heavily on the legalization of cannabis in Germany, which the traffic light coalition under Federal Health Minister Karl Lauterbach (SPD) is currently striving for. However, a final opening of the market could still drag on for years.

The startup, founded in 2018, is already known for its VAAY and This Place brands, which sell lifestyle products such as bath oils or 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 since attracted prominent investors such as Mario Götze, Klaas Heufer-Umlauf and Stefanie Giesinger.