Ratan Tata, the former chairman of Tata Sons, one of the two holding companies that make up the Indian industrial behemoth Tata group. He served as chair from 1991 until 2012. BOHECO’s association with him could improve hemp’s profile and motivate foreign investors which are essential to hasten industry development, according to stakeholders. BOHECO’s made a milestone in revolutionizing the Hemp Industry India, backed by Ratan Tata, marking a new era in Hemp Investments in India.
Boheco is a pioneer in the Indian Hemp industry, and their work has helped to revolutionize the way Hemp is grown and processed in India. By working closely with farmers and processors, they have made it easier for Indian Hemp to be exported around the world. In addition, they have provided jobs for thousands of Indian farmers. As the Hemp industry continues to grow, Boheco will continue to play a vital role in its development.
BOHECO’s History
BOHECO began in 2013 as Bombay Hemp Company Pvt. Ltd. The company was started by seven partners who all shared a passion for hemp. Since then, BOHECO has become a leading player in the global hemp industry. The company takes a broad approach to hemp, working with farmers, processors, and manufacturers to develop innovative products and solutions. BOHECO is committed to sustainability and transparency. The company’s mission is to make hemp an integral part of the Indian economy, and it is well on its way to achieving this goal.
Since then, the company has established a robust value chain that employs 75 families and produces hemp textiles. BOHECO is also committed to delivering high-quality fashion products made from hemp. Its branded line of hemp fashions, “B Label,” is sold in India, North America, and Germany. By investing in the development of its people and its products, BOHECO is setting the standard for excellence in the hemp industry.
Mr. Ratan Tata Invests
India’s hemp industry is getting a boost from an unlikely source: Ratan Tata, one of the country’s most prominent business leaders. Tata, who is the chairman emeritus of the Tata Group, one of India’s largest conglomerates, had invested $1 million in BOHECO in late 2017, to help them develop hemp-based products.
This marked a significant turning point for the hemp industry in India, which has long been restricted by regulations. While the $1 million investment is relatively small in light of India’s vast potential for hemp production, Tata’s involvement was a clear signal that officially India – and investors – are beginning to see the crop’s possibilities across a spectrum of potential products.
In the past, hemp has been used to create everything from rope and fabric to building materials and biofuels. With BOHECO’s help, it is hoped that India will be able to tap into this versatile plant’s potential and create a new industry that can provide jobs and boost the economy.
Foreign investment may help the hemp industry develop quickly, according to BOHECO’s stakeholders. They envision beginning with the medicinal, food, and cosmetics industries, followed by textiles & fashions.
It wasn’t only Mr. Ratan Tata, but Google India’s managing director Rajan Anandan also jumped on the BOHECO bandwagon by leading a Rs 6.25 crore investment round in the startup in February 2018.
This brings the total investment that BOHECO has received to $5.1 million. According to a company statement, the new funds will be used to increase its farmer outreach program, build a product development team, and expand its hemp textile business. This marks as most impactful Hemp Investments in India.
Previous Investments
BOHECO, raised a pre-Series A funding round of $750,000. The funding was led by Arphi Electronics and AngelList Trust. Other Indian investors that participated in the round included a syndicate led by IIM-Kozhikode alumni fund and Prakhar Agarwal of Adept Ventures. With this latest addition, BOHECO has raised a total of $2.33 million. The company informed that they would be using the new funds to continue its expansion in India as well as to enter new markets. Additionally, BOHECO plans to use part of the funds to research and develop new products.
New Investors
BOHECO, has also received an investment from two new investors: Kochar and Raghav Mohan.
Kochar is a director at VI-John Group, which creates shaving products, toiletries, perfumes, deodorants and powders. They also specialize in hair and skin care products. Raghav Mohan Bakshi is General Manager/Corporate and Ritesh Mohan Bakshi is Chief Business Development Officer at RRB Energy. With this injection of new capital, BOHECO plans to expand its product range and reach more customers. The company’s hemp products are currently sold in India, the United States, Europe, and the Middle East. With these new investments, BOHECO is well positioned to continue its growth and solidify its position as a leading manufacturer of hemp based products.
Times of India published an article on 15th Nov 2021 on Ratan Tata-backed cannabis startup Bombay Hemp.
Click here to read an article on India’s Journey with Hemp – From Prohibition to Legality.
