Medicinal cannabis startup Cannarma secured undisclosed funding from early-stage venture capital fund Zero to One at a pre-money valuation of Rs 17 crore. Registered with the government’s Startup India program and incubated at Amity University’s Innovation incubator, Cannarma plans to use the funds for customer engagement, expanding into new areas, developing technology, and increasing presence in over 10,000 medical facilities in India. The startup also intends to expand globally in the next fiscal year. Founded in August 2022 by Rohit Chauhan and Keshav Agarwal, Cannarma offers therapeutic cannabis-based products in a market valued at over $146.4 billion. Praveen Kaushik, Director of Zero To One Fund, stated, “As the world embraces alternative medicines, rediscovering ancient knowledge that science has overlooked for centuries, the possibilities for treating ailments using cannabis phytocannabinoids are expanding. The Cannabis plant, one of the five sacred plants in Ayurveda referred to as ‘Vijaya,’ possesses profound therapeutic properties and has historically been used to heal chronic illnesses.” Cannarma aims to provide physicians and patients with medicinal cannabis-based products to address conditions such as the opioid crisis, sleep disorders, anxiety, depression, arthritis pain, chronic pain, neuropathic pain, epilepsy, Parkinson’s disease, and cancer. Founders Rohit Chauhan and Keshav Agarwal expressed their satisfaction with the funding from Zero to One Fund, which will support the company’s growth in India and prepare for international expansion next year. According to Statista, the medical cannabis market in India is projected to generate $13.13 million in revenue this year and achieve a compound annual growth rate of 14.64%, resulting in a market volume of $26 million by 2028. This growth is driven by an increasing demand for alternative treatments among patients.

Delhi’s Cannarma, a cannabis brand for medicinal purposes, recently raised an undisclosed amount in a pre-seed funding round led by Praveen Kaushik, founder of Zero to One Fund, at a pre-money valuation of Rs 17 crore ($2.04 million). Amity Innovation Incubator also participated in the round.

Expansion and Growth Strategy

Cannarma aims to boost customer engagement, expand into new regions, and invest in technology development with this funding round. Additionally, the company plans to establish a strong presence in over 10,000 medical facilities throughout India.

What does Cannarma do?

Established in August 2022, Cannarma is an Ayurvedic research and development organization founded by Rohit Chauhan and Keshav Agarwal. Licensed by the Department of Ayush, Cannarma produces and sells natural Ayurvedic goods, such as CBD oil, hemp seed oil, and medicinal cannabis. The company’s product line effectively treats a range of health conditions, including the Opioid crisis, Cholesterol, Blood Pressure, Diabetes, sleeping disorders, Anxiety, Depression, Arthritis pain, Chronic Pain, Neuropathic Pain, Epilepsy, Parkinson’s disease, and alleviating side effects of Cancer Chemotherapy.

Working with Himachal Pradesh government

The Delhi startup collaborates with Himachal Pradesh authorities to explore hemp cultivation for medicinal, industrial, and scientific purposes. Its objective is to utilize these policies to investigate the therapeutic potential of cannabis and generate state revenue from hemp products.

Medicinal cannabis startup Cannarma raises undisclosed amount led … (indianstartupnews.com)

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