Hemp brand Wildleaf bets on medical cannabis space
Hemp brand Wildleaf recently forayed into the medical cannabis space. On offer are three pure cannabis leaf extracts, which founder Vignesh Murthy says, have been designed with different cannabinoid ratios to meet specific needs.
“Our medical cannabis range phase 1 has been launched where we have three pure cannabis leaf extracts that have been designed for different age groups, different ailments and for different times of day. All our products have been designed with different cannabinoid ratios to meet specific needs, we have canna leaf mild, balanced and strong,” he adds.
Over the next few months, the brand expects to launch ailment-specific medicines such as sleep, anxiety, mood balance, gut health, sexual disorders, and cancer related pains.
Bengaluru-based Wildleaf began its journey in 2012 with a promise of making hemp-based products widely available.
So why did Wildleaf choose to enter the medical cannabis space? Vignesh explains that since there are not many natural medications available in the market that can treat issues such as anxiety, insomnia, epilepsy and seizures with lesser side effects, Vignesh thought Wildleaf products can make a positive impact in this space.
Wildleaf’s medical cannabis products are in the price range of Rs 3,500-Rs 4,000. However, Wildleaf expects its products in the pipeline to be more economical.
The global legal marijuana market is expected to touch $146.4 billion by the end of 2025, according to a report by Grand View Research. With a population of 1.4 billion, India is a substantial market.
Wildleaf considers Boheco, India Hemp Organics, India Hemp and Co, Cure by design, Savikalpa Sciences, Vedi Herbals, Indogenix and Cannabryl as its competitors.
When it comes to the legal and other challenges for startups in this space Wildleaf’s C0-founder K Raghunandan Rajesh says, “Medical cannabis still is slightly complicated to get into because it not only requires many licenses, but also demands knowledge and understanding into the subject. There are many protocols to follow as it is related to the cannabis plant and we feel it is going in the right direction. The hemp and medical space are evolving every day and you must be prepared to face challenges every day.”
Wildleaf has so far raised approximately 60 lahks from friends and family and is now looking to raise further according to their needs and requirements.
Edited by Affirunisa Kankudti