NEW YORK, Sept. 23, 2019 /PRNewswire/ — PRESS RELEASE — Altitude Investment Management, plc (AIM plc) has announced a $five.five million investment in Switzerland-primarily based KannaSwiss AG (KannaSwiss), the top supplier of prime-tier CBD isolate goods in Europe. This marks AIM plc’s very first investment in the European cannabis industry.
Earlier this year, Altitude Investment Management, a New York-primarily based investment firm focused on the emerging worldwide cannabis business, opened its workplace in London and raised $7.four million for its newly formed UK-primarily based investment enterprise, AIM plc. The objective of AIM plc is to take benefit of the emerging and fragmented European cannabis marketplace by investing in foundational corporations in the industry’s provide chain. With a population additional than double that of the United States, a speedy-developing CBD/wellness and emerging healthcare cannabis industry, and deregulation actions that are starting to mirror North America Altitude believes that it will capitalize on this European early-mover benefit via AIM plc.
« My partners and I have been laser-focused on investing in the legal cannabis business considering the fact that 2016. We raised about $31 million in our very first cannabis automobile which has been invested in 19 corporations across the business, » stated Roderick Stephan, co-founder and companion of Altitude. « While the CBD/wellness industry is thriving, the healthcare and legal cannabis markets in Europe are in their infancy. We think that more than the subsequent couple of years, healthcare cannabis will be usually accessible across Europe and some nations will also permit recreational consumption. The industry is poised for tremendous development just as it has in the U.S. »
The newest funding will permit KannaSwiss to materially scale its industrial ethanol extraction operations each in bulk sales of CBD isolate and distillate, as properly as in the improvement, advertising and sales of branded goods. AIM plc’s investment will permit KannaSwiss to fund further production capabilities and biomass intake to meet its current and quickly developing client demand. The funds will also accelerate KannaSwiss’ attainment of ISO 9000 and GMP certification additional solidifying the company’s leadership position in the industry. KannaSwiss has not too long ago hired two further chemists to concentrate on R&D for cannabinoid-enhanced formulations to address cognitive function, PMS/menopause, PTSD, mood enhancement, sleep and immune overall health.
« This important investment from Altitude will enable solidify us as the top hemp extraction and solution enterprise in Europe, » stated Ivan Enderli, co-founder of KannaSwiss.
« We have currently established ourselves as a trusted brand of bulk CBD isolate and distillate and we are focused on expanding our current solution providing to shoppers, » added KannaSwiss Chief Executive Officer Boris Blatnik.
« Swiss manufacturing holds itself to the highest requirements, so I am confident that my team’s dedication to good quality and innovation will create a top line of goods on the European industry. »
« Altitude believes the investment chance in the European legal cannabis business is exceptional and presents compelling outsized danger adjusted returns. Professionals project the CBD wellness industry in Pan-European nations to be worth $416 million in 2019 and attain $1.7 billion by 2023, with healthcare cannabis coming in at $318 million in 2018 with speedy expansion to $eight billion by 2023, » stated Stephan. « The path forward has sturdy assistance, and we are searching to be one particular of the very first to assistance and develop the European industry. »
Moving forward, AIM plc will invest in controlling and non-controlling interests in emerging private corporations especially across the legal European cannabis industry’s provide chain. Founded by John Brecker, Michael Goldberg, Rod Stephan and Jon Trauben, Altitude has an established track record of effective investments in the cannabis business whilst navigating its ever-altering dynamics. Its portfolio consists of Grassroots, EMMAC, Canndescent, Flowhub, SpringBig, PathogenDx, BDS Analytics and additional.