Cannabis startup Hemp Horizons raises Rs 2 crore in seed funding
Cannabis startups Hemp Horizons said on February 4 that it raised Rs 2 crore in seed funding from Mumbai Angels Network and Angel List. Hemp Horizons is a seed-processing company registered with the US Food and Drug Administration (FDA) and certified for Good Manufacturing Practices (GMP).
“We are happy to see more and more individuals understanding the benefits of cannabis and investment funds looking at companies like ours as a potential game-changer in the health and wellness space,” Hemp Horizons CEO Rohit Shah said.
Founded by Shah, Kartikey Dadoo, and Kanishk Yadav, Hemp wants to make use of cannabis for medicinal purposes—a growing trend in western countries. Cannabis is being used in Ayurvedic, Siddha and Unani schools of medicines.
Funding will help the startup launch and market cannabis extracts and hemp-seed products.
“Today increasing demand for hemp seeds over traditional herbal seeds is driving the growth of the market. There are over 2 crore legal cannabis users in India and the growing demand for personal care products, protein supplements, cosmetics and several other Hemp products will boost the market,” the startup said.
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