Sana Life Science, a London, UK-based medicinal cannabis distributor, raised £7.4M in funding.
The backers were not disclosed.
The company intends to use the funds to expand its business reach.
Set up by former Boston Consulting Group colleagues Ben Hamburger and Arjun Rajyagor, Sana Life Science is a medicinal cannabis distributor, operating in the UK, Germany, the Channel Islands, and Israel. Having developed innovative in-house technology, the company has built a supply chain platform to transform and improve the way the cannabis industry operates. The Sana Life Science group consists of:
- Sana Healthcare (a fully licensed medical cannabis importer and distributor),
- Sana Manufacturing (a manufacturer of consumer cannabis, oils, gummies and vapes), and
- Sana Lifestyle (a consumer cannabis product distributor).
The group currently employs 33 people.
Today’s news comes as Sana also announces a number of strategic acquisitions in Europe, and that it is opening a new fundraising round to continue driving growth. The company has acquired a series of companies for a total of £5m. This includes:
- B3 Labs, a UK-based Novel Food accredited manufacturer of CBD oils, gummies and vapes, which is BRCGS (Brand Reputation Compliance Global Standards) certified;
- Hiliz, an Israeli-based distributor working to bridge the gap between growers and patients, in which Sana has taken a minority stake with an option for majority control. They currently distribute to over 200 pharmacies across the country and are seeking to increase this figure by 300 in the near future; and
- German-based medical cannabis supplier, MedizinalHanf, which has its own GDP facility.