Zerodha's Nikhil Kamath plans to fund startups working on hemp which belongs to marijuana family

Co-founder and chief executive officer of Zerodha Nithin Kamath recently took to Twitter to help people understand the difference between hemp and marijuana. He also revealed plans to allocate capital to startups working on hemp after obtaining regulatory clarity on the same.

He said because the two plants look alike and come from the same family, hemp is often mistaken for marijuana and this is the reason why it is not in the mainstream.

He tweeted two photo explainers that showed the differences between the two plants.

"Hemp belongs to the Cannabis sativa family—the same as marijuana. They look similar, but hemp is versatile and has multiple uses, including as a superfood. It's also good for the planet. Unlike its notorious cousin, hemp doesn't get you high. Partly why it isn't popular."

Kamath said he learned about hemp when evaluating a startup working on hemp protein.
"We're now convinced about allocating capital to startups working on hemp, but we're also seeking regulatory clarity. This discussion in the @RainmatterOrg Grove forum helped too,” he tweeted.

He said the Food Safety and Standards Authority of India approved hemp seeds for human consumption, "but the notorious cousin and the tainted family are bound to create issues."

"Some states, like Uttarakhand, are working on a policy on hemp. It will be awesome to get input from anyone who has spent time on this," Kamath added.