Agri-tech startup OneBasket generates revenue of US$ 1 million

Addressing supply-demand gap of organic & desi produce
Agri-tech startup OneBasket generates revenue of US$ 1 million
OneBasket is an Agri technology company that has developed a supply chain platform to offer customers a wider choice of groceries produced with Desi Seeds.Photo by Wendy Wei from Pexels

Hyderabad-based agri-tech startup, OneBasket, which addresses the supply-demand gap in the non-perishables segment, is creating a win-win situation for farmers and consumers.

Now, more than ever, people have become increasingly conscious of what they eat. According to Ernst and Young, the organic food market is in a dilemma. Organic food is healthy but comes with its own challenges for the farmers. It is difficult to grow, labor-intensive, takes a longer time to mature, and generates lesser yield. However, it is three times more expensive for consumers than non-organic food produced using genetically modified seeds.

So, can one eat healthy without it being expensive? The answer lies in Desi Seeds, also known as Heirloom seeds. There are many reasons why these seeds are becoming the first choice for farmers and consumers alike. Some of the claims include:

  • Takes the normal cycle time to grow

  • Inexpensive for farmers

  • High in nutrition as opposed to genetically modified seeds

  • Wallet-friendly for consumers, unlike organic

  • Much tastier- testified by consumers

OneBasket is an Agri technology company that has developed a supply chain platform to offer customers a wider choice of groceries produced with Desi Seeds. Mr Madhusudan Reddy Salla, founder of OneBasket, said, “Today 95% of the farm produce available in the market are cultivated with commercial seeds that are mostly genetically modified for better resistance to pests and higher yield. Most of the organic labeled products available also use genetically modified seeds. Since “Organic” has become very popular.”

“Since organic food is more expensive to grow with a lesser yield, farmers opt-out of producing them. This results in genetically modified food being labeled as “Organic” and consumers paying a premium for no better grade of food,” he added.

According to OneBasket, consumers can not find out the authenticity of the produce to be organic or not. The company claims that with blockchain-based technology, OneBasket offers traceability of the source of food, seeds used to grow them, and the stages the produce has gone through to reach the end consumer without paying extra.

After one year of sales within Hyderabad, OneBasket’s customers can differentiate the product by just its taste rather than scanning the QR code that is available behind their products. This encouraged OneBasket to now onboard thousands of farmers to offer a healthy alternative to commercial-grade seeds.

Within a year of starting operations, OneBasket has already been able to list and sell close to 80 to 100 tons worth of farm produce on their platform.

OneBasket gives its farmers identity and helps consumers directly place their order for the quality of produce they would like to buy. OneBasket has reached US$ 1 million in revenues in a short span of starting operations and expecting FY 22 to end with US$ 7 to 10 million.

OneBasket started in 2019 with a forward vision to change the supply chain of Agri products. The vision was to apply technology to benefit both the farmers and consumers. Over one year in market research and field visits, the gap was evident for traceability in the agri supply chain.

Customers want better quality products, but vendors were pushing out the same product with fancy labels. This led to the development of OneBasket platform that started with 20 farmers and is now scaled to 200 in a span of six months.

OneBasket applies technology and Artificial Intelligence (AI) to create a marketing and identity platform for Indian farmers and the un-organized food supply chain. Our full-stack supply chain platform uses AI and farmer-assisted Machine Learning (ML) to trace and grade food grains digitally. The platform provides traceability, guaranteed quality, and ease of transaction between farmers, millers, and consumers.

With over 8000 active subscribers and farmers calling in to enroll every day, the company said it would soon be beating its forecasts set forth for this fiscal. Currently, they are billing around US $ 50K in monthly sales and estimate to get to US$ 100K monthly sales before March 2021.

No stories found.
FoodTechBiz.com
www.foodtechbiz.com