Awshad [A Medical Cannabidiol startup growing in 2023 ]
What is Awshad?
Awshad is a startup that provides the possibilities of cannabis use in reimagining the ways in which an individual can live, think and feel. These products are clinically tested, vegan, and cruelty-free range of full spectrum CBD tinkers and topical combine all the best principles of ayurveda with intensive lab research, founded by Shivam Singhee and Richa Jaggi in the year 2021.
|Products||Medically tested cannabis|
|Revenue Model||D2C, One-Time Payment|
How did it start?
When the founder was in the US he himself experienced issues related to insomnia and anxiety. In order to help these problems, the founder often resorted to products like sleeping pills and other medications.
However when he exposes himself to CBD products then the founder realizes that CBD products are natural, toxic free and non-addictive. It can help in alleviating anxiety and stress and can provide vaccinations to the human body.
After college, Shivam went on to work in India’s oil and gas industry in various capacities, before deciding to explore the United States’ vibrant CBD landscape further With a keen understanding of a booming cannabis industry, he came back to India with a vision for a holistic, homegrown cannabis lifestyle brand. That brand manifests as Awshad.
That’s how the idea came to the founder. In the year 2020 fortunately the market atmosphere was structured in such a way that Shivam got the opportunity to start this cannabis-related startup.
One of the primary versions of this cannabis-oriented start-up is to destigmatize The usage of cannabis and cannabis-related products.
“We want to destabilize cannabis use and we know that in the last 30 years, cannabis has got very bad popularity which it does not deserve. We want to educate people that cannabis is better than other Opioid based products” Says the founder.
This duo-founded startup has gone up to 8 times in growth since its inception. In the last few months, the growth rate has been 15%.
Area of Operations
Currently, this Delhi-based start-up is expanding its services all over India. However, the sales are mostly from major metropolitan cities like Delhi, Bombay, Bangalore, Kolkata, and Pune. But at the same time, the orders also come from small villages in South India, and other places which are in Rajasthan, central India.
The main revenue is from the sale of the products provided on the website. The products and the profit received by the sale of the product can be considered as one of the main revenues for this cannabis-based start-up. Another form of revenue can be the distribution of products to Ayurvedic doctors and healthcare professionals.
Well while starting with the thought that most of their consumers will use, however after the sale of products they realized that they were completely wrong because most of the consumers were above the age of 60. So currently their market mostly operates among consumers who are around 60 years old or from the age range of 20 to 45 years.
The competition is increasing day by day, this duo-founded startup has its competition with other big players in the market who are based on hemp-based products or cannabis-related products.
There is a lot of stigma and stereotypes related to cannabis-related products. A lot of people in India do not have an awareness of how cannabis and marijuana-based products are very helpful and healthy. The social media also does not allow this duo-founded startup to openly propagate and promote products that are hemp-based. And a lot of people also do not have awareness about whether these CBD oils are legal or not.
Initially, the revenue of this Delhi-based start-up was IN₹ 50,000 but it rose 10x to IN₹ 5 lakhs last year.
Currently, This D2C-based Startup is exploring more plants and oils for chronic illnesses like arthritis, body pains, Parkinson’s disease, and more.
They are trying to experiment more and make formulas that can help people more with their physical ailments and mental health problems.
The product itself is the strength of this Ayurveda-based start-up. The idea of cannabis-related products is very new and can have a lot of benefits if used by consumers.
The weakness can be the lack of awareness among people, related to cannabis. People have a lot of negative attitudes and stereotypes attached to cannabis and hemp-based products.
Opportunities can be the overall benefits of the crop. Cannabis crops can help in preventing a lot of chronic illnesses and can cure a lot of chronic illnesses.
Certain companies may end up breaking the law regarding the industry, there is a lack of government legality related to the manufacturing of this crop.
Shivam Singhee, Founder & CEO, is Awshad’s resident CBD expert and the force behind its inception. It was during his time at the University of Texas at Austin, USA that he first experienced CBD’s therapeutic properties to help manage his chronic insomnia.
Richa Jaggi, Co-founder & CMO is at the heart of Awshad, driving it forward with deep insights, creativity, and data. With over 10 years of rich experience with some of the world’s biggest brands like Vodafone, Unilever, Outbrain, and many more, she is also the top marketing talent in the country with the title of Top #40under40 marketers under her belt.
What CBD means?