Alyssa Milano, Will.i.am invest in leading European cannabis startup

Growth op

Popular German CBD brand VAAY has launched into the U.K. market after getting a boost from U.S. and European celebrity investors, including Will.i.am and Alyssa Milano. German soccer star Mario Goetze and model Stefanie Giesinger have also invested in the company. VAAY is owned by Berlin-based Sanity Group, which develops cosmetic and pharmaceutical cannabinoid products. Germany contemplates legalizing recreational cannabis Germany’s cannabis-using drivers will no longer instantly lose licences Germany’s largest online drugs dealer shut down, 11 arrested With the addition of the latest round of funding, which totalled just under US$5 million ($6.5 million), Sanity Group has raised US$29 million ($37.7 million) to date. According to a statement , it’s the highest level of investment raised by a European cannabis startup. The investment also marks Will.i.am’s entrance into the cannabis market. “I am a big fan of innovative health companies, especially after seeing the growing research that is done around the hemp plant,” Will.i.am said, adding that the company has “found the right approach and has created high-quality products to help people.” Founded in 2018 by co-CEOs Finn Age Hänsel and Fabian Friede, Sanity Group operates two business streams, Vayamed, a medical cannabis company focused on therapies and pharmaceuticals, and Sanity Care, a line of consumer goods products, which includes VAAY and CBD-cosmetic brand, This Place. “This additional investment in our business will help drive forward the expansion of our Wellbeing division and brands across Europe,” Hänsel said. Friede called the celebrity investments “a sure-fire catalyst for growth.” He added, “We are very excited to have investors who don’t just bring funding, they bring a passion for the brand that is infectious.” While recreational cannabis remains barred in Germany, politicians, advocates and lawmakers have been calling for increased access to CBD products in recent months, reports Hemp Industry Daily…

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Source : Alyssa Milano, Will.i.am invest in leading European cannabis startup

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