Cannarma, a medicinal cannabis brand, has successfully secured an undisclosed investment in a pre-seed funding round. This initiative was spearheaded by Praveen Kaushik, the founder of Zero to One Fund, with a pre-money valuation of Rs 17 crore ($2.04 million). Alongside this, Amity Innovation Incubator has also extended support to the startup during this funding phase.
The infusion of funds aims to fuel Cannarma’s growth strategies, focusing on engaging existing customers, expanding into new regions, and advancing technological development. The company’s vision includes establishing a presence in over 10,000 medical stores, clinics, and hospitals across India.
Founded in August 2022 by Rohit Chauhan and Keshav Agarwal, Cannarma operates as a research and development organization licensed by the Department of Ayush.
Their focus lies in manufacturing and distributing Ayurvedic goods such as CBD oil, hemp seed oil, and medicinal cannabis, emphasizing the use of natural ingredients and maintaining high-quality standards.
Asserting their commitment to being entirely Indian-made, Cannarma merges ancient Ayurvedic practices with modern research and technology.
Their products are crafted from naturally grown Cannabis landraces found in specific regions of India, adopting therapeutic and medicinal-grade formulations approved by a scientific board of researchers.
Operating out of Delhi, the startup collaborates with government authorities in Himachal Pradesh, working toward policies supporting hemp cultivation for medicinal, industrial, and scientific purposes.
They believe such initiatives will harness cannabis’s medicinal properties to aid patients while generating revenue for the state through hemp-based products.
Cannarma claims its range of products has demonstrated efficacy in addressing various health concerns, including the opioid crisis, diabetes, cholesterol, blood pressure, sleep disorders, anxiety, depression, arthritis pain, chronic pain, and alleviating chemotherapy side effects in cancer patients.