Highest seed funding in the European cannabis space: Bloomwell Group receives over ten million US dollars

  • US growth capital provider Measure 8 Venture Partners is the lead investor.
  • With Boris Jordan one of the most renowned cannabis experts in all of North America joins the board.
  • “era of natural based medicine”
  • Acquisition, investing, developing of cannabis companies along the value chain

Frankfurt a.M., 18, October 2021. The Bloomwell Group has successfully closed a seed funding round of over ten million US dollars. This is the highest publicly known seed investment for a European cannabis company to date. The lead investor is the US growth capital provider Measure 8 Venture Partners, specialists in cannabis industry investments. Business angel Prof. Dr. Reinhard Meier is also investing again through his VC M4 Capital. Mr. Philipp Weber of FPS acted as legal advisor to Bloomwell.

Simultaneously the Bloomwell Group, which includes Algea Care, Europe’s leading telemedicine company for medical cannabis, is repositioning itself as a holding company, allowing it to build, invest in or acquire cannabis companies. 

“With Bloomwell, we are revolutionising healthcare through digitalisation and the potential of medical cannabis as well as other natural medicines. All our portfolio companies will radically focus on a consumer centric approach along the entire value chain of medical cannabis – with the exception of cultivation. The era of natural based medicine begins now and Bloomwell is taking the lead,” says Niklas Kouparanis, CEO & Co-Founder of Bloomwell Group.   

Within a year, Bloomwell Group has grown to 160 employees. In the current year, a turnover of five million euros is expected. In addition to Niklas Kouparanis, CEO, serial founder and cannabis pioneer, the board is strengthened by telemedicine veteran Prof. Dr. Reinhard Meier, who as the founder led Teleclinic to an exit, Co-Founder Samuel Menghistu and Boris Jordan, founding partner of Measure 8 Venture Partners.   

The prominent board thus covers all facets of the fields of medicine, digitalisation, cannabis, investment and company building in various markets. Professor Dr. Reinhard Meier has previously founded and invested in several medical companies as well as initiating several of his own VC funds. 

With the $285M acquisition of EMMAC, Curaleaf is the first and only MSO to have a meaningful presence in Europe. Jordan, is considered one of the most renowned cannabis experts in North America and has been responsible for the operations of Curaleaf, a global publicly traded cannabis company, as well as venture investments in the cannabis space via Measure 8 Ventures. Founded in 2018, Measure 8 Venture Partners was created by Boris Jordan to capitalize on the emergence of the U.S. and global cannabis industry and was named by Business Insider as the most active cannabis VC fund during 2020. 

Niklas Kouparanis is one of the pioneers and serial entrepreneur in the euopean medical cannabis industry. Samuel Menghistu has been acting at the intersection of banking, investments, M&A Transactions and IPOs for more than six years. 

“Many high expectations of investors and global corporations in the European cannabis industry have not been fulfilled as promised since the ‘Cannabis Law’ in March 2017 came into place, even though the market has grown steadily. With Bloomwell, we have shown within a timeframe of one year how much can be achieved through entrepreneurial finesse. Nevertheless the still quite young European cannabis industry is full of potential for Bloomwell’s future development. While the market is consolidating elsewhere, all signs point towards growth and expansion through the combination of cannabis, innovation, digitalisation and a radical D2C or direct-to-patient approach,” says Anna-Sophia Kouparanis, co-founder of the Bloomwell Group.  

“Germany is the leading European market for medical cannabis and the Bloomwell Group has proven within one year that it can identify and scale innovative solutions in this new growth market for the benefit of patients. Cannabis has a bright future in Europe and we look forward to supporting and working with the Bloomwell Group as they continue to scale,” says Boris Jordan, Founding Partner of Measure 8 Venture Partners and Executive Chairman of Curaleaf.   

“Digitalisation is the key to finally putting patients at the center of an inefficient healthcare system. Algea Care, a portfolio company of Bloomwell has already proven that it has the expertise and clout to improve the well-being and everyday life of thousands of patients in a highly regulated sector through medical cannabis and digitalisation as well as an immensely high service standard,” says Prof. Dr. Reinhard Meier.    

About Bloomwell Group   

The Bloomwell Group acts as a holding company for medical cannabis companies and potentially for companies in a recreational market that may be legal in the future. The mission is to build, acquire and invest in ESG healthcare companies along the entire value chain, with the exception of cultivation. In doing so, Bloomwell Group relies on a patient-centric D2C approach to set up a strong, revolutionising and streamlined Patient Journey to change healthcare for the better. The combination of natural medicines and digitalisation is a journey back to the roots of healthcare with 21st century tools. The green revolution in healthcare starts now and Bloomwell is taking the lead. www.bloomwell.eu    

About Measure 8 Venture Partners   

Measure 8 Venture Partners, LP  is an alternative investment vehicle created to capitalize on the emergence of the U.S. and global cannabis industry. 

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Moritz Förster