Thankyoujane closes financing round

The Munich-based CBD start-up was able to raise a mid-six-figure sum. Among other things, it wants to use the money for the development of new products.

The CBD start-up Thankyoujane did not disclose the exact amount. However, the company, which was founded in 2017, says it has closed a mid-six-figure seed funding. The money comes from existing investors, while Torus Capital is new to the deal.

Thankyoujane offers CBD oils, CBD capsules and CBD crystals, among other products, through its eponymous website, it said. The startup said it quadrupled its sales last year. "Our vision is to create wellness for our customers based on the hemp plant," says CEO Sven Kalies. "Because we are able to convince more and more customers with this approach, our company is developing dynamically and will generate a mid-seven-figure turnover this year," Kalies continues.

CBD is an active ingredient found in the cannabis plant. Together with THC, CBD is one of the best known. Since CBD can also have an intoxicating effect depending on the dose, there are always legal disputes about products containing CBD. Thankyoujane wants to use the money to develop more CBD-containing products.