An independent investor based in Hamburg has invested in a Germany CBD extractor called Signature Products GmbH. The CBD extracting company was valued at €5 million ($5.9 million) before the investment. However, the value of the investment is yet to be disclosed.
Signature Products GmbH was founded in June 2019. The company looks after its hemp supply network and does distillation and extraction, packaging (bottling), white labelling, biomass trading, and research and consultation on the hemp market.
In a statement, Signature Products GmbH did not reveal the size of the investment they received but noted that the appraisal of the investor made the company the youngest startup company that has the highest valuation across Europe. They refused the investor got an ownership stake in the company.
Florian Pichlmaier, a co-founder, and CEO of Signature Products GmbH, said that they did not have the permission to reveal the name of the investor. He noted that the name would be kept confidential until official registration because of strategic reasons.
Nevertheless, Pichlmaier revealed that they received the funds at the end of last month.
Since then, the investment funds have been set aside for expanding the presence of the company in the business-to-business (B2B) service. They will also be used to hire an international sales representative and a marketing and hemp raw materials expert.
Pichlmaier expects Signature Products GmbH to open an online platform for comparing hemp products by October.