Cannarma to raise $3 million to fuel expansion

Cannarma, an ayurvedic hemp-based products company is in talks with investors to raise $3 million (Rs 24 crore) in a funding round to fuel its growth in the domestic and global markets.

The company will use the funds on marketing, global expansion, intellectual property (IP) development, and team enhancement.

Additionally, it plans to utilise the funds to strengthen its distribution network both domestically and internationally.

Commenting on the funding, Keshav Agarwal, director of Cannarma in a statement said, “Securing the funding will enable us to accelerate our growth and bring our high-quality hemp products to more markets. We are committed to drive innovation in the medicinal cannabis space and provide natural health solutions that are both effective and safe.”

Founded by Keshav Agarwal and Rohit Chauhan, Cannarma offers wellness products made by combining modern science with ancient ayurvedic practices.