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| 2 minutes read

2 minutes read

Ratan Tata Backs A Mumbai Startup That Will Do Research On Marijuana

| Published on January 8, 2018

Use of Marijuana has been a very debatable topic in India. No matter how many medical positives of Marijuana scientists discover, our society still feels a bit awkward about using it. Ratan Tata and Google India’s Managing Director Rajan Anandan are among the names of investors who are supporting a Mumbai based startup Bombay Hemp Company (Boheco) that is doing research on the medical use of cannabis in association with the Council of Scientific and Industrial Research (CSIR).

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In the initial stage, Boheco is growing cannabis to study its medicinal properties for use in the treatment of dreadful diseases like epilepsy and breast cancer. Until now, Boheco has raised Rs 6.25 crore from the investors. Avnish Pandya, co-founder of Boheco said, “We already have our first batch of cannabis plants cultivated in Jammu, within the CSIR framework.”
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Cannabis-related medical startups are getting a good response in English countries including the US. It is expected that the cannabis market is will reach $31 billion globally by 2021. Boheco has been contacting the state governments of Uttarakhand, Uttar Pradesh and some other states for getting the permit to cultivate cannabis.
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The company was founded by seven youngsters in 2013. It also sells its own clothing products online and in niche boutiques across different parts of India, including Jaipur, Goa and Rishikesh.

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