BERLIN, June 16, 2021 /PRNewswire/ -- European medical cannabis company Cantourage today launched its new and innovative platform, enabling cultivators from across the world to bring their product into the growing and profitable European market more quickly and cheaply. Already a price leader with a significant market share in the competitive German Dronabinol market, Cantourage and its partners now offer products in all relevant market segments – dried flowers, extracts and Dronabinol.
"We look forward to expanding our offering with the launch of our platform, which kicks off with more than 10 partners from all continents. The current European market is dominated by just a few companies. Market entrants face many hurdles when trying to enter these profitable markets. We empower cultivators and offer them fast-tracked, secure European market access, while helping them grow their brand", Philip Schetter, Co-CEO of Cantourage, comments. "Our platform expands and enhances the offering to patients and healthcare providers in Europe, in terms of both product and pricing. More importantly, Cantourage guarantees the highest European quality standards for flowers from all over the world. We are set to revolutionize the market", Dr. Florian Holzapfel, Co-founder of Cantourage, added.
Cantourage disrupts and breaks the current market oligopoly by offering unbureaucratic and fast market access to the European market to cannabis cultivators worldwide. The company enables cultivators to sell under their own brands. Through its presence in various segments, Cantourage aims to democratize the market, offer pharmacies and medical cannabis distributors alternative buying opportunities across the entire market offering, and create new opportunities for the market to further grow. Based in Germany but already active across Europe in four countries, Cantourage is set-up to scale at high speed.
Norman Ruchholtz, Co-CEO at Cantourage says: "The European market for medical cannabis is the fastest-growing, with over 20 European countries already having legalized medical cannabis and sales expected to generate over $3 billion by 2025. Roughly 1 – 2% of the population is estimated to be a potential medical cannabis patient, but access to the European market for producers and the offering for patients is still highly restricted, with just a few players creating a quasi-oligopoly. We firmly believe – in the interest of our customers – that this market is ripe for change and disruption."
More than 10 cultivators from all continents, from Jamaica through to Portugal and Uruguay, have already signed on as partners and clients, with more scheduled to join in a few weeks' time. "Cantourage is one of the few players that can supply the market at high speed – leveraging its existing production and distribution networks. Our dried flower product Flos FOTMER T3h is already available in German pharmacies. Together with our investors, we will further grow our European footprint and reach to service additional markets," explains Co-founder Patrick Hoffmann.
Recently, the already profitable company closed its Series B funding, led by long-term partner Think.Health Ventures. Next to all previous investors, 10x Group joined the funding round which was set at a high double-digit million Euro valuation.
"The management team leading Cantourage is exceptional. Their 25-plus years of experience, deep understanding of the market, exceptional set-up and aim of expanding the offerings in the market makes us very excited to be on board." explains Dr. Florian Kainzinger, CEO of Think.Health Ventures, which was also the first venture capital firm in 2015 to invest in the medical cannabis sector in Germany.
Cantourage with its market disrupting model and the more than 10 signed supply contracts in place, is about to become one of the European leaders in medical cannabis.
Cantourage is a leading European medical cannabis company. The Berlin-based company was founded in 2019 by industry pioneers Dr. Florian Holzapfel, Norman Ruchholtz and Patrick Hoffman. Cantourage enables producers from across the world to bring their product into the growing and profitable European market more quickly and cheaply, while guaranteeing and further developing highest European quality standards. It offers products in all relevant market segments: dried flowers, extracts and Dronabinol, with a strong and growing market share in the latter.