With Snoop Dogg millions: Cansativa expands marijuana distribution

Created: 05/24/2022Updated: 05/24/2022 15:07

By: Julius Fastnacht, Sandra Kathe

A corporation founded by Snoop Dogg supports a cannabis start-up from Mörfelden-Walldorf with millions.

This continues to expand sales.

Update from Tuesday, May 24, 2:30 p.m .:

Cansativa, a dealer supported by US rapper Snoop Dogg with millions, is expanding its marijuana range.

As the company, based in Mörfelden-Walldorf, Hesse, announced on Monday (May 23), pharmacies can now also purchase medical marijuana from Canadian manufacturer Aurora through them.

It now produces in Germany - and according to Cansativa, it is the only company in Germany that is allowed to sell medicinal grass from local cultivation.

"For the first time, we are giving our customers exclusive access to the products of all medical cannabis producers growing in Germany," said Cansativa manager Roland Schneller.

Cansativa: Cannabis start-up expands product range

Young cannabis plants from the pharmaceutical company Demecan can also be found in the product range of the Hessian distribution company Cansativa.

© Sebastian Kahnert/dpa

In August 2020, it was awarded the contract by the Federal Institute for Drugs and Medical Devices (BfArM).

Cansativa has been supplying German-grown cannabis to pharmacies for almost a year.

So far, it had sold medicinal cannabis from the Canadian manufacturer Tilray and the start-up Demecan, which produces near Dresden.

With new addition Aurora, Cansativa will provide 2.6 tons of medical marijuana annually over the next four years, it said.

Since July 2021, pharmacies have been able to obtain medicinal cannabis of pharmaceutical quality for the care of patients.

Medical cannabis has been permitted in Germany since 2017 and can be prescribed by doctors, for example to relieve pain in the seriously ill.

Since then, the drug has boomed, with more and more people receiving prescriptions for medicinal weed.

Foreign investors are also increasingly seeing this as an opportunity.

Cansativa probably received around 13 million euros in capital last year from the American investor Casa Verde Capital - behind the company is a self-confessed pothead with US rapper Snoop Dogg.

Cansativa: Snoop Dogg invests in marijuana start-up from Hesse

In addition to his music, Snoop Dogg has also been making a name for himself as an investor since 2015.

His company Casa Verde has now also invested in a company in Hesse.

(Archive photo) © Frederic J. Brown/AFP

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First report from Wednesday, February 16:

Mörfelden-Walldorf – Cannabis legalization in Germany is to come*.

This opens the door to a million-dollar business for start-ups, farmers and medical companies.

This can be seen, among other things, from the well-known investors who are now taking on the topic.

They support companies that are getting ready to help shape the recreational cannabis market from the start.

A company from Hesse* has succeeded in a recent coup: The Cansativa Group, founded in Mörfelden-Walldorf in 2017, claims to receive 13 million euros in capital from a total of three investors around the US investor Casa Verde.

The special thing about it: Behind Casa Verde Capital is a prominent founder, US rap star Snoop Dogg.

US rapper Snoop Dogg's company invests in start-up from Mörfelden-Walldorf

The start-up from near Frankfurt* has so far specialized in the production and sale of medical cannabis.

According to its own description, since August 2020 it has been "the only company licensed to sell medicinal cannabis from German cultivation".

In the legalization of cannabis decided by the traffic light coalition, they see themselves as "pioneers for the democratization of the cannabis market".

That probably went down well with Snoop Dogg's company, which bills itself as "the cannabis industry's leading venture capitalist."

In the press release on the deal, Casa Verde emphasized its belief that the start-up from southern Hesse will "play a central role in the expected legalization in Germany".

The company expects the European cannabis market “to have a potential of over three billion euros by 2025”.

For Casa Verde, the investment in Cansativa is the largest capital investment in Germany and Europe to date.

Start-up from Mörfelden-Walldorf sees great opportunity in cannabis legalization

However, it is not yet clear when exactly cannabis legalization can be expected in Germany.

The only thing that is clear is that all three traffic light parties have spoken out in favor of the legalization of cannabis in their positions on the coalition agreement between the SPD, Greens and FDP in order to better control the market and thus also have a positive effect on topics such as the black market, quality control and addiction prevention be able.

(Sandra Kathe/dpa)

Experts reckon that legalization in Germany could also have an impact on cannabis policy in other European countries.

In any case, Cansativa plans to use the financing from Snoop Dogg's company to expand its business in the long term with a modern cannabis platform for the B2B market.

The company from Mörfelden-Walldorf calls itself "the Amazon for cannabis products".

(ska)