Ratan Tata-backed Bombay Hemp Company raises investment in the Hemp Industry

Bombay Hemp Company Pvt. Ltd. has completed a strategic round of fundraising that will build upon its ‘first-mover advantage’ as the provider of holistic wellness products empowered by Ayurveda.

“However, the real story is not just the quantum of funds that we have raised but the calibre of Investors that we have attracted,” stated Company CEO Chirag Tekchandaney.

“We believe that Mr. Kochar’s expertise in the mass marketing of consumer goods will be of tremendous assistance in expanding BOHECO’s reach,” added Mr. Tekchandaney.

“We are equally pleased to announce Mr. Riteesh Mohan Bakshi and Mr. Raghav Mohan Bakshi of the renowned Mohan Bakshi family have taken up a key position in BOHECO as well. Both gentlemen will lend advocacy and regulatory support in certain States where they have previous experience working with Government Officials,” stated Mr. Tekchandaney (overview of Mohan Bakshi family attached).

With this new round of capital, the Company will bolster its manufacturing, production, and quality control assets, omnichannel distribution capabilities, e-commerce platforms, brand building, customer acquisition, and sales operations. The Company plans a rapid expansion of its direct-to-consumer Health, Wellness, and Nutrition brand, BOHECO Life to meet consumer demand.

“We intend to become a leading global player in the health and wellness marketplace. Throughout the world, consumer, and regulatory attitudes about the medical uses of hemp are shifting and we see that shift daily as consumers purchase our Arthritis, Stress, and Pain Management Products. We are currently in discussions with various Canadian Companies and Entrepreneurs with regards to strategic investments and expect to make further announcements in the weeks ahead,” concluded Mr. Tekchandaney.

This current round of financing was arranged through the efforts of Mr. Kanav Parwal, of SPA Capital.

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Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of  economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.

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