Mumbai: India’s white label Hemp seed processing startup Hemp Horizons witnesses a 100% increase in its hemp seed procession in the past 6 months amidst India’s movement towards the legalization of Cannabis in northern states of India. The startup processed over 48 tons of Hemp seed and supplied it to over 90% of the Hemp industry in India. The company not only clocked growth in its hemp processing business but also witnessed 30% growth in its lifestyle and health products sales under the brand Health Horizons.
Recently the government of India announced the plans to legalize cannabis in the northern states of India for medical cultivation and riding the same adoption and growth curve, Hemp Horizons has witnessed a 45% Y-o-Y revenue growth. Moreover, to sustain and clock further growth as the industry expands and Hemp becomes legal in India, the company is planning to raise a new round of funding.
The focus of the funding will be to strengthen the positioning of the company as a vertically integrated company in seed and cannabis extract space. Hemp Horizons further plans to utilize the upcoming funding to set into cultivation and expand their lifestyle and health & wellness product portfolio. This will enable the company to have an end to end transparency and traceability of each product right back to its source.
Commenting on the growth and the expansion plan, Rohit Shah, Co-Founder and CEO, Hemp Horizons stated “The fund infusion will help Hemp Horizons dig deep into the cannabis extraction industry and launch some exciting new products for Indian market as well as open the foreign market gates for their ‘Made in India’ products“.