[Funding] Hemp Horizons raises 2 Crores Seed Fund led by Mumbai Angels

Hemp Horizons has raised INR 2 crore as part of its seed funding round led by Mumbai Angels Network. The seed round also saw the participation from Angel List and Bikky Khosla. The fresh round of investment will help the company to launch and market Cannabis extracts, second-gen hemp seed products. Thus, it will further help to solidify its position in the market.

Rohit Shah, Kartikey Dadoo, and Kanishk Yadav founded the company in 2017. Since then, Hemp has escalated the use of natural products over western medicine. Speaking on the announcement, Rohit Shah, CEO of Hemp Horizons said that the investment shows confidence. He said that individuals are understanding the benefits of cannabis. Further, he believed that the investment shows that they are as a potential game-changer in the health and wellness space.

Other leaders

Lead Investor Nandini Mansinghka, Co-promoter and CEO, Mumbai Angels Network states that they added Hemp Horizon to the portfolio, as it aims to bring change in the way people see Hemp and its uses. “We are confident that Hemp Horizons will amaze everyone with its products in the health and wellness space in the coming time,” she said.

Bikky Khosla, CEO of TradeIndia.com said, “From taking on taboos around the benefits of cannabis, to building proprietary machinery for hemp seed processing, to providing contract manufacturing to other businesses across the country; Hemp Horizons has powered through incredible challenges to come out as one of India's leading hemp startups. Proud to be associated with them and also excited to see what lies ahead!”

The only Hemp Manufacturing to Retail brand Hemp Horizons plans to add 2 new Hemp seed-based products in their product range shortly.

What is Hemp?

According to the company, Hemp has various health benefits and usage as an active ingredient in Ayurvedic and other medicines. Thus, they believe that the cannabis market will grow drastically. However, the complex regulatory structure of industrial hemp and its usage in different countries has created ambiguity upon its legality. 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 in the forecast period.