With gradually growing investor interest, startups working with industrial hemp hope to become part of a global boom where the plant is used in sectors ranging from medicines to textiles
Rohit Sharma, President, Indian Industrial Hemp Association (IIHA); Image: Madhu Kapparath
After eight long years of being a voice for hemp in India, Elston Menezes, 31, one of the founders of B.E Hemp, decided to shut the shop last year before the pandemic due to miniscule returns and very limited market reach. The startup started out by educating the public about cannabis and hemp, before gradually selling accessories and dreamcatchers made from hemp, aiming to develop their brand of basic hemp t-shirts with the returns. The founders had bigger plans, but slow market growth and tiny returns made it difficult for them to sustain.Shalini and Jayanti Bhattacharya, co-founders, India Hemp & Co, recently launched a new pet vertical, starting with hemp seed oil for pets
A few months before the Covid-19 pandemic, Shalini and Jayanti Bhattacharya set up India Hemp & Co in November 2019. Keeping sustainability at fore, the Bengaluru-based startup sells hemp hearts, protein powder, seed trail mix, and hemp oil—on their website. Recently they also launched a new pet vertical, starting with hemp seed oil for pets—which prevents inflammation (internal and external), promotes joint, heart and brain health.
Loveena Sirohi and Rohit Kamath, co-founders of India Hemp Organics
Another startup that launched right before the pandemic in February 2020 is India Hemp Organics founded by Rohit Kamath and Loveena Sirohi. They manufacture and retail ayurvedic proprietary medicines using hemp seeds and leaves, particularly in categories like medicine, nutrition, and personal care.Tarun Jami, co-founder of GreenJams
Some hemp startups are also addressing the climate change crisis using hemp products. In 2017, Tarun along with his brother Varun Jami founded GreenJams to eliminate the emissions from the construction industry. They came up with hempcrete, also known as hemp concrete or lime hemp concrete, and agrocrete (made from crop residues). Hempcrete is carbon negative, and can absorb emissions (up to 250 kg of carbon dioxide per meter cube), plus it is light-weight too. Yet, the limited domestic supply of hemp has made hempcrete about six times the cost of cement-based concrete, destructing its commercial potential.