Lyphe Group secures £5m Series A funding led by Leafy Tunnel to scale European operations.
Leafy Tunnel led the Series A round to fund expansion into multiple European markets.
Lyphe Group operates a digital first medical cannabis ecosystem offering patient care, clinical treatments, and proprietary dispensing software. The company integrates supply chains and telehealth services across the UK and European markets.
Lyphe Group has secured £5m in a Series A financing round led by Leafy Tunnel. The investment also drew participation from Sharp Capital Advisors and a syndicate of high net worth individuals. The capital will be deployed to drive international expansion into multiple European markets utilising the company proprietary dispensing software and supply chain infrastructure.
The raise follows a strong period of commercial growth for the firm, which reported a more than 250% year-on-year revenue increase through 2021. Lyphe currently employs over 100 staff across telehealth, dispensing, and technology operations, positioning itself as a prominent medical cannabis operator in Europe.
From the founder
"It was critical for Lyphe to raise enough funds to execute on our scale-up plans and be in control of our destiny. We are fortunate to be leaders in our primary market with a very clear growth plan, and as such we have attracted the very best investors into this round from US, Europe and UK. Leafy Tunnel sees us step into venture capital, and we are honoured to have them on the cap table and supporting our vision for international growth, alongside Sharp Capital and all other new and old shareholders."
Jonathan Nadler
CEO and Co-founder at Lyphe Group
Investor perspective
"Leafy Tunnel is thrilled to support Lyphe as one of the company’s investors. We strongly believe that the company is well-positioned to continue its growth as a market leader in medical cannabis in the UK and Europe. This is an important milestone, which we are excited to contribute to, as these funds should help to further accelerate the company’s expansion strategy across Europe. We are fully aligned with the company’s roadmap towards securing a leading market position in Europe and look forward to supporting the management in achieving Lyphe Group’s next milestones."
Bek Muslimov
Co-Founding Partner, Leafy Tunnel
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Lyphe Group
Medical cannabis ecosystem provider offering patient care and digital services.