German Medical Marijuana Producer DEMECAN Comes Close To $109M Valuation With New Funding Round Led By US-Based Investor
Vertically integrated German medicinal cannabis company DEMECAN announced the successful completion of its latest funding round on Wednesday. According to a person familiar with the matter, the new round brings DEMECAN’s valuation close to 100 million euros ($109.24 million), reported Reuters. The amount of the new funding round was not disclosed.
Led by Florida-based Trog Hawley Capital with additional participation from new and existing investors, the round, represents the first institutional investment from a U.S.-based investor in DEMECAN. Trog Hawley provides capital and strategic advice to exceptional entrepreneurs and management teams, leveraging over 10 years of experience building and investing in U.S. multi-state cannabis operators (MSO). The participation of international investors with such experience underscores DEMECAN’s potential as well as the potential of the German medical marijuana market.
Partial cannabis legalization took effect in Germany on April 1, allowing adults over 18 to possess up to 25 grams of dried cannabis and cultivate up to three plants …