Cannarma, a leading player in the sector, has successfully raised an undisclosed amount in a pre-seed funding round. The funding, spearheaded by Praveen Kaushik, founder of Zero to One Fund, and featuring support from Amity Innovation Incubator, comes at a pre-money valuation of Rs 17 crore ($2.04 million). This strategic infusion of capital is poised to catapult Cannarma into new horizons, as the company sets its sights on widespread expansion and technological advancements.
Empowering Growth Initiatives
The funds secured in this round are earmarked for a series of pivotal growth initiatives. These include amplifying customer engagement, venturing into untapped geographies, and fortifying technological capabilities. With a vision to establish a presence in over 10,000 medical stores, clinics, and hospitals across India, Cannarma aims to make its mark as a key player in the rapidly evolving medicinal cannabis market.
Crafting Quality through Ayurvedic Expertise
Founded in August 2022 by Rohit Chauhan and Keshav Agarwal, Cannarma stands out as a research and development organization armed with licenses from the Department of Ayush. Specializing in the production and sale of Ayurvedic goods such as CBD oil, hemp seed oil, and medicinal cannabis, Cannarma prides itself on its commitment to crafting high-quality products using only natural ingredients. This emphasis on natural elements aligns seamlessly with the growing consumer demand for holistic and organic wellness solutions.
Strategic Collaboration with Himachal Pradesh Government
Operating out of Delhi, Cannarma has strategically aligned itself with the government authorities of Himachal Pradesh. The collaboration centers around formulating policies related to hemp cultivation for medicinal, industrial, and scientific purposes. Cannarma envisions these policies as a pivotal step towards unlocking the full medicinal potential of cannabis, both for patient treatment and as a revenue-generating avenue for the state through hemp-derived products.
Addressing Diverse Health Challenges
Cannarma’s product line claims to be a game-changer in addressing an extensive range of health issues. From combating the opioid crisis to managing cholesterol, blood pressure, and diabetes, the startup asserts proven results in dealing with various conditions such as sleep disorders, anxiety, depression, arthritis pain, chronic pain, neuropathic pain, epilepsy, Parkinson’s disease, and alleviating cancer chemotherapy side effects.
Shaping the Future of Medicinal Cannabis
As societal attitudes toward cannabis evolve and regulations adapt, Cannarma emerges as a trailblazer in the integration of traditional Ayurvedic principles with cutting-edge research and development. The startup’s commitment to navigating the regulatory landscape through collaboration with government entities positions it as a responsible contributor to the industry.
Expanding Accessibility and Transforming Healthcare
The successful pre-seed funding round signals a pivotal moment for Cannarma and the broader medicinal cannabis industry in India. With plans to expand its network to over 10,000 medical outlets, Cannarma is not only positioning itself as a trusted brand but also aiming to make medicinal cannabis options widely accessible. This strategic move aligns with the company’s overarching vision to redefine healthcare approaches through the fusion of Ayurvedic principles and medicinal cannabis solutions.