Global perceptions of cannabis have changed significantly in recent years, with its potential medical and health uses in particular coming to the forefront. Once primarily associated with drug abuse, its therapeutic benefits are now increasingly recognized and the development of cannabis-based medicines and wellness products has proliferated. Central to this transformation is the rise of CBD, a non-psychoactive compound found in cannabis, which is being hailed by consumers for its potential to alleviate symptoms such as chronic pain, anxiety, and sleep disorders. and equally widely accepted among medical professionals.
In Europe, countries such as Germany and the Netherlands are leading the way in introducing medical cannabis. The increasing acceptance of cannabis for both medical and wellness purposes is driving significant market growth across the continent. The European cannabis market is expected to reach $6.2 billion in revenue in 2024. This growth is further fueled by the growing popularity of CBD products, especially those focused on wellness and self-care, and the rise of cannabis dispensaries and online retailers catering to a variety of needs. Diverse consumer needs.
In this article, we introduce 10 European startups that are at the forefront of the evolution of the cannabis industry. These companies, including medical cannabis producers, wellness brands and digital health platforms, are setting new standards and unlocking the potential of cannabis across Europe and beyond.
Cannaray: Cannaray is based in London and operates in both the medical THC and CBD wellness space. The company's flagship CBD brand, Cannaray CBD, offers a wide range of products including oil drops, capsules, gummies, and muscle balms, all designed to be effective and enjoyable. The company also operates a medical division, Therismos, focused on the import and distribution of cannabis-based products for medical use throughout Europe. Founded in 2018, they have raised €20.8 million to support their growth and expansion.
Curaleaf: Based in London, Curaleaf is a medical cannabis company that combines cutting-edge cultivation, extraction and production with the latest science and research. They control the entire process from seed to patient through a vertically integrated supply chain, ensuring a consistent and reliable product. The company is dedicated to advancing medical cannabis science through research and innovation, collaborating with academic partners to explore its therapeutic potential. Founded in 2018, the company has raised €23.4 million to drive its business and expand its market reach.
DIVIE: Paris-based Divie is a retail company that offers a variety of wellness products, including CBD-based drinks, oils, and herbal teas. The brand was inspired by the founder's personal experience with the benefits of CBD for maternal health and was founded with a focus on providing high-quality, natural wellness solutions. Divie emphasizes the importance of quality and transparency and controls the entire production process to ensure its products are natural, organic and safe. Since its launch in 2020, Divie has raised €2 million to expand its product line and online presence.
Lyphe Group: London-based Lyphe Group operates a medical cannabis ecosystem that integrates patient care, medical treatment, and direct-to-patient digital services. The company's subscription-based model streamlines the entire cannabis treatment process, from consultation to product delivery, ensuring a seamless experience for patients across the UK. Our integrated supply chain in partnership with Gro-Vida ensures a continuous and reliable supply of medical cannabis directly to patients' homes. Founded in 2018, Lyphe Group has raised €5.9 million to develop infrastructure and expand patient services, making medical cannabis more accessible and effective.
Northern Leaf: Based in the UK, Northern Leaf is a medical cannabis cultivation company focused on producing high quality cannabis for the European medical market. Founded in 2019, the company takes advantage of Jersey's unique climate and regulatory environment to grow cannabis that meets strict pharmaceutical standards. A strategic focus on controlling every aspect of the cultivation process, combined with a £30m investment in cutting-edge technology, delivers reliable cannabis-based medicines that meet the exacting requirements of doctors and patients You can.
OTO: Based in London, OTO is a wellness brand that specializes in developing luxurious and effective CBD products designed to enhance your sense of well-being. We offer a wide range of products including skin care, sleep aids, oils and beverages, all made with sustainably sourced, naturally derived and vegan ingredients. OTO's products are rigorously researched, designed and tested to ensure optimal results to help you find moments of calm and balance in your life. Additionally, OTO offers unique CBD-infused spa treatments and a subscription service for ongoing wellness support. Founded in 2018, it has raised €3.3 million.
Sanity Group: Based in Berlin, Sanity Group focuses on promoting health and well-being through the use of cannabinoids. They work in both the medical and wellness fields, developing innovative pharmaceutical and consumer products based on non-psychoactive cannabinoids. With a focus on scientific research, their mission is to improve people's quality of life by unlocking the full potential of cannabis. Founded in 2018, Sanity Group has raised €123.3 million, making it one of Europe's most well-funded cannabis startups.
Script Assist: Based in London, Script Assist is a digital platform that aims to revolutionize the medical cannabis prescription process by connecting patients with private doctors who can prescribe UK-approved medical cannabis. . The platform offers a streamlined experience from finding a doctor to booking an appointment, managing prescriptions and requesting refills, all through a user-friendly app. Founded in 2019, they have raised €8.7 million with the aim of improving the approach to medical cannabis for both patients and healthcare professionals.
SOMAÍ Pharmaceuticals: Based in Dublin, SOMAÍ Pharmaceuticals specializes in the production and distribution of high quality, EU-GMP certified cannabinoid-based medicines. They operate state-of-the-art manufacturing facilities and indoor cultivation, providing a wide range of cannabis-based therapeutics to the global market. Founded in 2019, SOMAÍ has raised €37.7 million to expand its business and continue developing new products. Through strategic partnerships and a focus on innovation, we aim to meet the growing demand for cannabis-based medicines around the world.
TRIP: Based in London, TRIP offers deliciously refreshing, lightly sparkling drinks infused with natural botanicals and CBD. The company's products support relaxation, are low in calories, sugar-free and third-party quality tested, offering a healthier alternative to alcohol. We also offer oils and blends, all designed to help you reset and find calm. Founded in 2019, TRIP has raised €20.2 million to promote relaxation and health through innovative beverages.
By the way: If you are a company or investor looking for exciting startups in a specific market for potential investment or acquisition, check out our startup sourcing service.
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