The global perception of cannabis has undergone a significant shift in recent years, particularly as its potential for medical and wellness use has come to the forefront. What was once largely associated with drug misuse is now increasingly recognised for its therapeutic benefits, leading to a surge in the development of cannabis-based medicines and wellness products. Central to this transformation has been the rise of CBD, a non-psychoactive compound in cannabis, which has gained widespread acceptance among consumers and healthcare professionals alike for its potential to alleviate conditions such as chronic pain, anxiety, and sleep disorders.
In Europe countries like Germany and the Netherlands leading the charge in embracing medical cannabis. The increasing acceptance of cannabis for both medical and wellness purposes is driving substantial market growth across the continent. The European cannabis market is expected to reach $6.20 billion in revenue in 2024. This growth is further fueled by the surge in popularity of CBD products, particularly those focused on wellness and self-care, and the rise of cannabis dispensaries and online retailers catering to diverse consumer needs.
Cannaray: Based in London, Cannaray operates in both the medical THC and CBD wellness sectors. Their flagship CBD brand, Cannaray CBD, offers a range of products including oil drops, capsules, gummies, and muscle balms, all designed to be both effective and enjoyable. The company also runs a medical division, Therismos, which focuses on the import and distribution of cannabis-based products for medical use across Europe. Founded in 2018 they have raised €20.8 million to support its 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 consistent and reliable products. 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, they have raised €23.4 million to advance their operations and expand their market reach.
DIVIE: Based in Paris, Divie is a retail company offering a range of wellness products, including CBD-based drinks, oils, and herbal teas. The brand was founded with a focus on providing high-quality, natural wellness solutions, inspired by the founder’s personal experience with CBD’s benefits for his mother’s well-being. Divie emphasises the importance of quality and transparency, controlling the entire production process to ensure their 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: Based in London, Lyphe Group operates a medical cannabis ecosystem that integrates patient care, medical treatments, and direct-to-patient digital services. Their subscription-based model streamlines the entire process of cannabis treatment, from consultation to product delivery, ensuring a seamless experience for patients across the UK. With an integrated supply chain in partnership with Gro-Vida, they guarantee a continuous and reliable supply of medical cannabis directly to patients’ doors. Founded in 2018, Lyphe Group has raised €5.9 million to develop its infrastructure and expand patient services, making medical cannabis more accessible and effective.
Northern Leaf: Based in the UK, Northern Leaf, is a medical cannabis cultivator focused on producing high-quality cannabis for the European medical market. Founded in 2019, the company leverages Jersey’s unique climate and regulatory environment to cultivate cannabis that meets strict medicinal standards. Their strategic focus on controlling every aspect of the cultivation process, combined with a £30 million investment in state-of-the-art technology, allows them to deliver reliable cannabis-based medicines that meet the stringent requirements of physicians and patients.
OTO: Based in London, OTO is a wellness brand that specialises in creating luxurious, effective CBD products designed to enhance well-being. They offer a range of products including skincare, 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 they deliver optimum results, helping customers find moments of calm and balance in their lives. Additionally, OTO provides unique CBD-infused spa treatments and offers a subscription service for continuous wellness support. Founded in 2018, they have raised €3.3 million.
Sanity Group: Based in Berlin, Sanity Group is focused on enhancing health and well-being through the use of cannabinoids. They are active in both the medical and wellness sectors, developing innovative pharmaceuticals and consumer products based on non-psychoactive cannabinoids. With a strong emphasis 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 the most well-funded cannabis startups in Europe.
Script Assist: Based in London, Script Assist is a digital platform that aims to revolutionise the medical cannabis prescription process by connecting patients with private doctors who can prescribe UK-approved medicinal cannabis. The platform offers a streamlined experience, from finding a doctor and booking consultations to managing prescriptions and requesting refills, all through a user-friendly app. Founded in 2019, they have raised €8.7 million aiming aims to improve the medical cannabis journey for both patients and healthcare providers.
SOMAÍ Pharmaceuticals: Based in Dublin, SOMAÍ Pharmaceuticals specialises in producing and distributing high-quality, EU-GMP-certified cannabinoid-based medicines. They operate a state-of-the-art manufacturing facility and indoor cultivation, offering a wide range of cannabis-based therapeutics to global markets. Founded in 2019, SOMAÍ has raised €37.7 million to expand its operations and continue developing new products. Through strategic partnerships and a focus on innovation, they aim to meet the growing demand for cannabis-based medicines worldwide.
TRIP: London-based TRIP offers deliciously refreshing, lightly sparkling drinks infused with nature’s botanicals and CBD. Their products support relaxation and provide a healthier alternative to alcohol, being low in calories, sugar-free, and third-party tested for quality. They also offer oils and blends, all designed to help you reset and find your calm. Founded in 2019, TRIP raised €20.2 million to promote relaxation and wellness through their innovative beverages.
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Read the orginal article: https://www.eu-startups.com/2024/08/high-on-innovation-10-european-startups-unlocking-the-transformative-power-of-cannabis/
