In June 2022, MASTER Plant Holdings (“Master Plant” or the “Company”), an emerging force in the European cannabis industry, raised £500,000 in a seed funding round with Angel Investment Network (AIN), the world’s largest online angel investment platform.
Following this investment, Master Plant will aim to licence and redevelop a pharmaceutical distribution facility in Guernsey designed to develop high quality medical cannabis, unique strains and wider products for European distribution.
The European cannabis market is rapidly growing with Germany leading the way. Currently, the market exists via medical channels with limited psychoactive THC quantities (Cannabis Light). In fact, 89% of cannabis use cases involve this product for medicinal and therapeutic purposes. The European market is predicted to reach €13bn by 2027 according to Market Data Forecasts. In comparison, the United States market was estimated at approximately $65bn in sales in 2021, of which $21bn were from legal sources creating $4bn in tax.
After the first £500k round of funding, Master Plant is intent on remaining ahead of the curve. The Company is in the process gaining their cannabis licence for research, development and manufacturing of 300+ strains and formulations on the Island of Guernsey. Already, the company has consolidated decades of research and development into its proprietary cannabis genetics bank. This research will provide diversity in major and minor cannabinoids, as well as other beneficial molecules that will contribute to a vast assortment of future products. The licensed facility is set to distribute high quality medical cannabis, launch unique strains and products and develop deep tech enabled growth.
AIN’s funding will also enable the expansion of Master Plant’s senior team with seasoned experts joining from the North American cannabis industry. The commercial operations of Master Plant and Mee CBD, with groundbreaking water-soluble formulas, will also see wider development.
According to Master Plant CEO, Oliver Osgood: “We are delighted that angel investors have backed Master Plant’s vision as we continue to break new ground in the cannabis industry. As we look forward to the future, we are confident our cannabis licence and market proposition is unique. Combined with our proven track record and global cannabis credentials we are ambitious to become a key player in European cannabis.”Master Plant will aim to launch their next round of Series A funding in 2023. The £2m Series A funding will go towards retrofitting the Guernsey facility and developing commercial operations. Sign up for further updates here.