Today in Germany: Cannabis lemonade, Returbo and Home24 deal

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Katjes invests in cannabis lemonade

The candy company Katjes is known for its focus on sweets, but their subsidiary, Katjesgreenfood, has its sights set on sustainable plant-based foods. The company’s newest investment was in the Munich-based startup Hemptastic, which makes a cannabis-infused lemonade. While the drink does not include THC, the substance that causes a high after consuming marijuana, it does contain CBD, a different substance known to have a positive impact on health. The startup, which was founded in May 2015, sold 25.1  per cent of the company to Katjesgreenfood. More details, such as the size of the investment, remain undisclosed.
[Gründerszene] (German)

Update: Details on Returbo and Home24 Deal

Despite crowdfunding one million euros, Returbo, a startup that sold returned items, suddenly filed for bankruptcy in late 2016. The cause likely being PayPal’s decision to no longer resell their items over Ebay. Rocket Internet’s online furniture startup Home24 acquired the Returbo and its employees for 17,000 euros, meaning the crowdfunding investors will probably not see a penny.
[Gründerszene] (German)

Image: Hemptastic

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