RATAN-TATA BACKED BOMBAY HEMP COMPANY (BOHECO) RAISES LARGEST REPORTED INVESTMENT IN THE HEMP INDUSTRY IN INDIA

Bombay Hemp Company Pvt. Ltd. (BOHECO) has made great strides in consolidating its position as India’s premium supplier of full spectrum hemp leaf extract and other industrial hemp products. The company has completed a strategic fundraising round that will build on its “first mover advantage” as a provider of holistic wellness products based on Ayurveda. “The real story, however, is not just the amount of funds we raised, but the caliber of investors we attracted,” said Chirag Tekchandaney, CEO of the company. The Bombay Hemp Company (BOHECO) is India’s first start-up dealing with the medicinal uses of hemp. The seed round of investors included Tata Sons’ emeritus chairman, Mr. Ratan Tata, and the former CEO of Google India and currently CEO of Sequoia Capital and Surge, Mr. Rajan Anandan. Prior to this round of financing, the Bombay Hemp Company, with the participation of Arphi Electronics Pvt. Ltd., AngelList Trust – Syndicate led by the IIM-K Alumni Fund and Prakhar Agarwal of Adept Ventures and several other overseas HNIs. Bombay Hemp Company Launches Biggest Fundraiser in Indian Hemp Industry Today we are pleased to announce that Mr. Achin Kochar of the Vi-John group of companies is one of two major investors. The Vi-John Group is one of the largest Indian suppliers of beauty, skin care and cosmetic products. “We believe that Mr. Kochar’s expertise in mass marketing consumer products will be of tremendous help in expanding BOHECO’s reach,” added Mr. Tekchandaney. “We are equally pleased to announce that Mr. Riteesh Mohan Bakshi and Mr. Raghav Mohan Bakshi from the renowned Mohan Bakshi family have also taken on a key position at BOHECO. Both gentlemen will provide legal and regulatory assistance in certain states where they have previous experience working with government officials, ”said Mr Tekchandaney (Mohan Bakshi family summary attached). With this new round of capital, the company will strengthen its manufacturing, manufacturing and quality control facilities, omnichannel sales capabilities, e-commerce platforms, brand building, customer acquisition and sales activities. The company plans to rapidly expand its direct consumer brand BOHECO Life for health, wellness and nutrition to meet increasing consumer demand. BOHECO recorded an increase in sales of 250-300% and, in view of these investments, expects double growth. The global industrial hemp market is projected to grow to $ 15.26 billion in 2027 from 2020 to 2027 at an average annual growth rate of 15.8%, while the size of the global medical hemp market is expected to grow to 46.18 billion US by 2026. Dollar is forecast with a cumulative annual growth rate of 22.9%. This investment will not only strengthen the organization, but will also provide employment for people in agriculture, healthcare and business. “We intend to become a leading global player in the health and wellness market. All over the world, consumer and regulatory attitudes towards the medicinal use of hemp are changing, and we see this change every day as consumers purchase our products for the treatment of arthritis, stress and pain. “” We are currently in discussions with a number of Canadian companies and entrepreneurs on strategic investments and look forward to more announcements in the coming weeks, ”concluded Mr. Tekchandaney. This current round of funding was arranged through the efforts of Mr. Kanav Parwal of SPA Capital. DWR DWR

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