Namaste operates a global cannabis e-commerce platform with more than 30 websites in 20-plus countries under various brands. Namaste’s product offering includes vaporizers, glassware, accessories, and CBD products. Namaste leverages technology including artificial intelligence and machine learning to optimize and personalize a consumer’s on-site buying experience across its platforms.
Q&A with Entrepreneur & Namaste Technologies
What do you think are the biggest misconceptions cannabis industry?
The biggest misconception in the cannabis industry is the stigma. Canada is leading the way in federal legalization which will set a precedent for countries around the world. We focus on the medical market versus recreational as we believe in the long-term value of cannabis as a medicine and in reducing overhead of our burdened healthcare system and improving the lives of patients. Our goal is to prescribe natural alternatives to pharmaceutical products and offer the greatest selection of cannabis products, CBD, Terpenes, vaporizers, and hardware.
How is your business innovating?
Namaste has become the largest global e-commerce retailer for cannabis products. As a result, we have the opportunity to create innovative technology, like NamasteMD which is Canada's first compliant patient acquisition portal. What is most innovative and exciting are applications of AI in strain recommendations. Namaste acquired a leading e-commerce AI service, Findify.io, and will utilize millions of data points to feed a machine learning algorithm that will be able to predict and recommend strains for patients better than any medical doctor.
What was the biggest hurdle you had to overcome in your business?
Federal licensing for Namaste to distribute medical cannabis has been the biggest hurdle.
What is your favorite aspect of working in this industry?
We're at the end of prohibition in Canada; most Canadians understand and respect cannabis as a medicine. We are a technology-driven company, so while many others are focused on cultivation, we believe that over time, as cannabis is commoditized in each market, technology and branding are what will set companies apart. Our focus on AI and eCommerce applications and innovation in the cannabis industry are what make Namaste great and our global reach across 30 countries where there are great strides being made in areas of legalization.
What inspires you?
Our patients inspire us. Every day we have the opportunity to see the direct impact of cannabis health and wellness. We're inspired by this and by the support we receive from our customers and shareholders. This industry is still in an infancy stage and Namaste has leveraged many relationships and opportunities to be a global leader.