India-Based Health Care Startup Hempstreet Raises $1M

Hempstreet a health care startup concentrated on the use of cannabis in Ayurvedic medicine, has raised $1 million in pre-series A funding, according to TechInAsia.

The funding round was led by Pharmacon Holdings, which is a U.S.-based pharma-technology company, and private investor Romain Barberis.

Hempstreet will use the new capital to support its technology growth, research development, and to launch a new set of cannabis-based products, the report said.

The company said it's to India's first research-to-retail venture in the ayurvedic cannabis sector, and it is collaborating with scientists and several labs from the Council of Scientific and Industrial Research in India.

Benzinga's Cannabis Capital Conference returns to Miami Feb. 24-25 with North America's largest B2B cannabis gathering, bringing together capital, cannabis executives, thought leaders and more!

“We intend to set new milestones for the medicinal cannabis sector in the country with our world-class research, impeccable supply chain tracking, responsible and regulated formulation, and dispensing of cannabis-based medication,” Abhishek Mohan, the company’s co-founder, said in a statement.

In the Middle Ages, the cannabis plant was discussed in Ayurvedic texts, which assigned it with names such as “vijaya,” or “the one who conquers,” and “siddhi,” or “achievement,” according to ICanna.

BENZINGA CANNABIS CONFERENCE

Meet the biggest cannabis industry players and make deals that will push the industry forward.

Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.

Join us September 13-14, 2022 at The Palmer House in Chicago, IL.

Posted In: ICannaTechinAsiaCannabisNewsFinancingGlobalMarketsMedia