Founders & their story

• Kartik Sharna
• Sukrit Goel
• Arzoo Puri

Cannazo India blends ancient Ayurveda with modern scientific advancements to create health and wellness products derived from cannabis. Their offerings provide relief from a range of issues including cancer pain, insomnia, anxiety, depression, and various neurological disorders. With over 30 formulations approved by the Ministry of AYUSH, Cannazo India produces medicines in oral, tincture, tablet, and cream formats, available both as prescription-only and over-the-counter options.

Their products, intended solely for medical purposes, do not induce intoxication. With a customer base of over 5000 individuals, Cannazo India has established consultancy ties with the Central Drug Research Institute. They utilize cannabis leaf extracts in their medicines, boasting an efficacy rate of 80-85%. Launched in June 2022, Cannazo India operates within the vast Indian Ayurveda market valued at 60,000 crores, with the Indian cannabis market ranging from 500 to 600 crores and experiencing a year-on-year growth of 50-60%.

About the company

Cannazo India stands as an Ayurvedic pharmaceutical company delving into the research and development of phytochemicals found in medicinal plants and their interaction with the endocannabinoid system. Their innovative approach merges ancient Ayurvedic wisdom with modern Nanotechnology, exemplifying a commitment to advancing global healthcare.

With a history of pioneering Nanotechnology-based products, they’ve introduced medical quantum dots utilized by prestigious medical institutions worldwide. These quantum dots have revolutionized diagnostics and treatments, showcasing a dedication to healthcare advancement. In parallel, their Ayurvedic remedies harness the therapeutic benefits of ancient herbs, blending tradition with scientific research and Vedic knowledge. Their objective is to amplify the efficacy of organic compounds found in plants, crafting superior medicines tailored to address various Neurological Disorders such as epilepsy, cancer, multiple sclerosis, autoimmune disorders, pain management, and palliative care.

Cannazo India’s formulations, including vijaya leaf extract, offer precisely crafted Ayurvedic solutions rooted in ancient herbal wisdom and validated by scientific inquiry. Their focus remains on leveraging nature’s bounty to create high-quality medicines for neurological disorders, embodying a commitment to global health and wellness.

Revenue

In the fiscal year 2022-2023, sales amounted to 50 lakhs, while in the fiscal year 2023-2024, sales reached 1 crore by November. November 2023 alone accounted for 18 lakhs, and October 2023 for 16 lakhs. The retention rate stands at 70%.

Founders’ Ask 

1.5 crores for 5% equity at the valuation of Rs. 30 crores.

Offers

Peyush and Vineeta’s conditional offer: 50 lakhs for 10% equity at the valuation of Rs. 5 crores and Rs. 1 crore debt at 12% interest for 2 years.

Vineeta’s conditional offer: 25 lakhs for 5% equity at the valuation of Rs. 5 crores (CannazoIndia) and 25 lakhs for 5% equity at the valuation of Rs. 5 crores (Manufacturing Company) and Rs. 1 crore debt at 12% interest for 2 years.

Founders’ Counteroffer:

75 lakhs for 5% equity at the valuation of Rs. 15 crores (CannazoIndia) and 75 lakhs for 5% equity at the valuation of Rs. 15 crores (Manufacturing Company)

No Deal

Reasons for no deal

Aman: There is a situation of conflict of interest.

Azhar: The claims seem too farfetched.

Anupam: The founders seem distracted with too many things going on.