It was after he co-founded another Ayurveda venture — Nirogstreet — in 2016 that he became aware of the everyday pain-points of Ayurveda doctors, said Shrey Jain, co-founder and COO of the company.
“One of the most common pain-points of these Ayurveda doctors was the lack of a formulation to address chronic pain which is why they often had to resort to allopathy medicine.
Trailokya Vijaya Vati, the first cannabis Ayurveda product launched by Hempstreet, has seen a sale of about 3.6 million doses in the past 11 months, he says.
This means that they are Schedule E drugs under the Drugs and Cosmetics Act, which states that the purchase of raw material requires an excise licence for its manufacturing unit, apart from the usual Ayush manufacturing licence for the sale of any Ayush product and GMP certification.
This also means Hempstreet is not authorised to sell directly to consumers and hence, runs on a B2B model where the company sells only to registered Ayurveda practitioners on its network who in turn can prescribe the products to patients consulting them.