Mumbai company to boost Ayurvedic production
Ratan Tata-backed Bombay Hemp Company Pvt Ltd (BOHECO) is discussing with various Canadian companies and entrepreneurs strategic investments and is expecting to make further announcements in the weeks ahead.
“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,” CEO Chirag Tekchandaney said in a release on 19 Nov 2021.
The company 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.
“Today, we are pleased to announce that Achin Kochar, of the Vi-John Group of Companies, is one of two lead investors. The Vi-John Group is one of India’s largest providers of Beauty, Skin Care, and Cosmetic Products in India. We believe that Kochar’s expertise in the mass marketing of consumer goods will be of tremendous assistance in expanding BOHECO’s reach,” he said.
“We are equally pleased to announce Riteesh Mohan Bakshi and 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,” he said, elaborating on the plans.
With this new round of capital, the company will bolster manufacturing, production and quality control assets, omni-channel 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 surging 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,” said Tekchandaney.
It has taken a major stride in solidifying its position as India’s premium supplier of full-spectrum Hemp Leaf extract and other Industrial Hemp Products. #investment #manufacturing /fiinews.com
