INSUBCONTINENT EXCLUSIVE:
Germany just hit a new milestone in the space where venture capital and the burgeoning cannabis industry meet.Berlin startup Demecan has
It has become the only German company allowed to produce medical cannabis in Germany.This is a watershed moment for the country and is the
first investment in this sector for the private investor network connected to btov Partners (a VC)
The other half of the funding came from a single German family office, which is understood to have its roots in the consumer goods sector
Only two other companies, two of them from Canada, were awarded the contract to produce medical cannabis in Germany in May 2019.btov
means Demecan will be able to produce at least 2,400 kilograms of dried cannabis flowers over the next four years
Demecan is also active as an importer and wholesaler of medical cannabis and can thus cover the entire value chain
Since the German government allowed cannabis to be prescribed for therapeutic purposes in 2017, demand has outstripped supply.Jennifer Phan
Germany currently represents the third-largest market for medical cannabis in the world and is on a growth path
We believe that the company has a first-mover advantage in a highly regulated market environment, especially as it is the only German
important milestone by winning the tender process
