The startup, which closed $1 million in a pre-Series A round.
Cannabis may be infamous for its psychoactive effects and “high”, but its use for medical reasons has grabbed the spotlight for a while now. Tapping this demand is Delhi-based startup HempStreet, which calls itself “India’s first fully integrated research-to-retail venture in the Ayurvedic cannabis sector”. The Cannabis Sativa plant, which encompasses hemp, cannabis, and marijuana, contains more than 100 different chemicals called cannabinoids.
These are used to treat many diseases and conditions, including chronic pain, insomnia, anxiety, menstrual cramps, muscle spasms, mental health, epilepsy, and multiple sclerosis, sexual disorders, and more. However, the highly unorganised nature of this segment, coupled with lack of standards and protocols, often leads doctors to make their own medicines.
Enter Delhi-based HempStreet, which provides Ayurveda doctors with high quality and standardised cannabis-based medicines. The startup uses cutting-edge technological innovations and works with leading scientists and research institutions to ensure the responsible dispensing of cannabis-based medication.
Co-founded by Abhishek Mohan and Aradhna Rai, HempStreet has a wide network of over 60,000 medical practitioners and 300 branded clinics across India. It strives to ensure “effective and responsible usage of cannabis” to a potential patient base of over 35 million individuals.
Abhishek Mohan, Co-Founder, HempStreet, says, “Currently, cannabis – in the Ayurvedic context – comprises 99 percent of what we are doing. We believe it is critical to apply scientific validation to what has been culturally known for generations.
With a world-class research partnership with Council of Scientific and Industrial Research (CSIR), we are set to release an extensive range of cannabis-based prescription products over the next few quarters.” Abhishek Mohan, Co-Founder, HempStreet.