Kanabo

Company Overview

Snapshot

Founded in October 2016 by Avihu Tamir, Kanabo operates with 11–50 employees. The company has raised $500,000 across one funding round from one investor. In February 2021, Kanabo went public on the London Stock Exchange.

Business overview

Kanabo is a medical cannabis research and development company that provides solutions for the medical cannabis industry. The company specializes in developing formulations of medical cannabis extracts for vaporization, designed to work synergistically with its medically certified VapePod vaporizer platform. This drug-device combination aims to deliver patent-pending formulations with precision and consistency to treat specific ailments. Kanabo operates within the Health Tech & Life Sciences sector, specifically focusing on Drug Delivery and Medical Cannabis, targeting patients and pharmaceutical markets.

Strategic signal

In October 2022, Kanabo reported growing revenues, driven by an acquisition, alongside other UK-listed cannabis companies. While the company continues to post operating losses, this revenue growth indicates market traction and the potential for future profitability, signaling to investors a company in a growth phase that is expanding its market presence despite current cost challenges.

Company Intelligence Q&A

What was a significant financial event for Kanabo in 2021?

In February 2021, Kanabo went public on the London Stock Exchange (LSE) through a reverse merger with Spinnaker Opportunities. The company was valued at approximately £111 million and raised £6 million.

What strategic partnership did Kanabo pursue in May 2022?

In May 2022, Kanabo decided to pursue a strategic partnership with Materia, a distributor of medical cannabis and CBD wellness products, to commercialize medical cannabis products in the UK and Germany. This partnership provides Kanabo with access to Materia's EU-GMP production facility in Malta and exclusive distribution rights in the UK for new products.

What was a key development for Kanabo in the Israeli market in March 2022?

In March 2022, Kanabo Group signed a Memorandum of Understanding with Forbe Ltd for the sale of CBD products in the Israeli market. Forbe is responsible for marketing, distribution, and sales, while Kanabo procures and processes the products, leveraging a positive regulatory landscape for CBD in Israel.

What acquisition did Kanabo make in February 2022?

In February 2022, Kanabo acquired The GP Service Limited, a primary care telemedicine provider. This acquisition was intended to facilitate the growth of Kanabo's digital and telemedicine business and establish a compliant channel for its medical products.

What partnership did Kanabo announce in October 2021?

In October 2021, Kanabo announced a partnership with Medocann Group to exclusively develop and distribute unique cannabis strains and products for the UK and German markets.