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European Medical Cannabis Company Bloomwell Group Raises $10 Million in Seed Round

FRANKFURT, Germany, Oct. 18, 2021 /PRNewswire/ — The Bloomwell Group has successfully closed a seed funding round of over $10 million dollars—the highest publicly known seed investment for a European cannabis company to date. The lead investor is US growth capital provider Measure 8 Venture Partners, specialists in cannabis industry investments. Among other investors, business angel Dr. Reinhard Meier is investing again through his Venture Capital Investors fund; and Mr. Weber of FPS acted as legal advisor to Bloomwell.

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

With Bloomwell, we are revolutionizing healthcare through digitalization and the potential of medical cannabis as well as other natural medicines. 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.

Niklas Kouparanis, CEO & Co-Founder of Bloomwell Group

Within a year, Bloomwell Group has grown to 160 employees, with projected revenues of five million euros in 2021. In addition to Niklas Kouparanis, CEO, entrepreneur and cannabis pioneer, the board is strengthened by telemedicine veteran Dr. Reinhard Meier, who as founder led Teleclinic to an exit, Co-Founder Samuel Menghistu and Boris Jordan, founding partner of Measure 8 Venture Partners.

The accomplished board covers facets in medicine, digitalization, cannabis, investment and brand building across various market sectors.

  • Dr. Reinhard Meier, Director of Radiology at Westpfalz Klinikum, previously founded and invested in several medical companies as well as initiating several VC funds.
  • Boris Jordan, 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.
  • Niklas Kouparanis, a serial entrepreneur, and a pioneer in the Euopean medical cannabis industry.
  • Samuel Menghistu, spearheading the intersection of banking, investments, M&A Transactions and IPOs for over six years.

Many of the high expectations of both investors and global corporations within the European cannabis industry have not been fulfilled since the enactment of the ‘Cannabis Law’ in March 2017, even though the market has continued to grow steadily. With Bloomwell, we have shown within just one year how much can be achieved through entrepreneurial finesse.

Anna-Sophia Kouparanis, Co-Founder of the Bloomwell Group

“The nascent 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, digitalization and a radical D2C or direct-to-patient approach.

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.

Boris Jordan, Founding Partner of Measure 8 Venture Partners and Executive Chairman of Curaleaf

“Digitalization 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 digitalization as well as an immensely high service standard,” said Dr. Reinhard Meier.

Giant Hogweed sows seeds of discomfort in Germany

KAISERSLAUTERN, Germany — Enormous plants that cause painful burns, scarring and blindness may sound like something from a science-fiction movie, but they are real and have been found in Enkenbach-Alsenborn and the Glantal at district of Kusel, Germany.

Giant Hogweed or Heracleum mantegazzianum is a noxious weed that can grow up to 18 feet tall and is characterized by thick, bright green stems with purple splotches and white hairs. Its thick, jagged leaves can grow up to five feet wide with large clusters of tiny white flowers forming an umbrella pattern at the top of the plant. The sap is the most dangerous part of the plant, which contains toxic chemicals called furanocoumarins that cause severe burns when exposed to the sun’s ultraviolet rays.

Exposure symptoms to Giant Hogweed sap include:

• Painful blisters that form within 48 hours and become dark and pigmented

• Blister scars can last a few months to six years

• Long-term sensitivity to sunlight

• Blindness may occur, if the sap gets into the eye

People should avoid the plant whenever possible, but if the plant must be removed, follow these safety precautions:

• Do not touch the plant with bare skin

• Do not touch your bare skin with sap covered gloves or clothing

Prevent sap from reaching your skin by:

• Wearing long waterproof gloves, long-sleeve shirts, long pants, boots and eye protection; synthetic water-resistant materials are best since cotton and linen fibers can soak up the sap and be penetrated by plant hairs.

• If controlling plants with multiple people, keep a good distance from one another as the sap can splash three to four feet

• Apply sun block before beginning to work

• Launder clothes that may have contacted plants

• Wash equipment with water immediately after use

• Limit exposure to sunlight after control or work around Giant Hogweed plants after sunset

• Do not use a weed trimmer or brush cutter because sap may splatter when stems are cut

• Keep water, soap, and eye wash near work areas in case of exposure

• Do not mow or otherwise cut to control the plant mechanically. This increases the risk of exposure to the plant’s sap, and its roots will quickly grow new stalks. Place all plant parts inside heavy duty garbage bags for disposal.