Cannarma Secures Pre-Seed Funding to Revolutionize Medicinal Cannabis in India

• ByStartupStory     |    November 27, 2023

In a groundbreaking move within the burgeoning medicinal cannabis industry, Cannarma, a leading brand in the sector, has successfully raised undisclosed investment in a pre-seed funding round. The initiative was spearheaded by Praveen Kaushik, founder of Zero to One Fund, and carried a pre-money valuation of Rs 17 crore ($2.04 million). Adding to the momentum, Amity Innovation Incubator also joined forces in backing this promising startup.

The funding infusion is earmarked for diverse growth initiatives, including enhancing engagement with existing customers, venturing into new geographical markets, and advancing technological capabilities. Cannarma’s strategic vision involves expanding its footprint to encompass over 10,000 medical stores, clinics, and hospitals throughout India.

Established in August 2022 by Rohit Chauhan and Keshav Agarwal, Cannarma stands as a research and development organization with authorization from the Department of Ayush. This authorization empowers the brand to manufacture and distribute a range of Ayurvedic products, such as CBD oil, hemp seed oil, and medicinal cannabis, all crafted with a commitment to using solely natural ingredients.

The Delhi-based startup has forged collaborations with government authorities in Himachal Pradesh, India. Cannarma asserts that their collaborative efforts align with evolving policies on hemp cultivation for medicinal, industrial, and scientific purposes. These policies are envisioned to unlock the medicinal properties of cannabis for patient treatment while concurrently generating revenue for the state through hemp-derived products.

Cannarma’s product portfolio boasts proven efficacy in addressing a spectrum of health challenges, including the Opioid crisis, Cholesterol, Blood Pressure, Diabetes, sleeping disorders, Anxiety, Depression, Arthritis pain, Chronic Pain, Neuropathic Pain, Epilepsy, Parkinson’s, and alleviating side effects of Cancer Chemotherapy.

The successful pre-seed funding round not only injects capital into Cannarma’s growth trajectory but also underscores the increasing recognition and support for advancements in medicinal cannabis research and development. As the company continues to make strides, the spotlight remains on its commitment to innovation, natural ingredients, and contributing to the evolving landscape of healthcare solutions.

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