Indian economy is largely based on agriculture. More than 75% of the people still live in rural or semi-urban areas and depend upon agriculture. Freshokartz is one such company that supports all these farmers in changing their lives through agriculture. The company uses the best technology to provide the best agriculture-related advice and service to them. They also allow their customers to buy fresh farm products directly from the farmers, hence eliminating the middle. It is a win-win situation for both farmers and consumers. So, let us get into this article to read about this revolutionizing company in the agriculture sector.
Freshokartz – Key Highlights
- Company Name – Freshokartz
- Founding Year – Dec 15, 2016
- Founders – Rajendra Lora and Chandrkanta Sahu
- Company Type – Private
- Headquarters – Jaipur, Rajasthan, India
- Industry – Agritech, Software
- Number of employees – 50 - 60
- Website – freshokartz.com
Freshokartz – Founders and Team
- Rajendra Lora – Co-founder and CEO (Ex. software engineer, Suvidhaa.com)
- Chandrakanta Sahu – Co-founder and COO (Head of Operations Netprologic)
- Laxman Sharma – Chief Technology Officer (Ex. Backened Developer at Booking.com, Ex. Full Stack Developer Credit Suisse)
- Saksham Sharma – Executive Vice President (Founder of 2 successful startups)
- Ravi Dhaka – AVP Business Development & Operations (Ex. Relationship Manager at HDFC)
- Abhishek Sharma – AVP Finance (Chartered Accountant)
Freshokartz – Brand Name and Logo
- Brand Name – The brand name of the company is 100% appropriate for the kind of business they are doing. It resonates with the idea of their business and it is easy for the customers to remember as well.
- Logo – The company's logo is in blue and green color and it is eye-catchy as well.
Freshokartz – Business
The company follows both B2B (Business to Business) and B2C (Business to Customer) models.
Freshokartz – Services Provided
Freshokartz provides various services not just to the customers but to the farmers as well. Some of those top services provided by the company are as follows:
- Input – Freshokartz offers seeds, pesticides, fertilizers, etc. for farmers.
- At affordable rates
- They deliver at the doorstep
- People can place an order over a phone call
- They offer the best quality products
- They have more than 10000 different types of products
- Output – Freshokartz makes it easier for the farmers to sell their yield.
- Direct connectivity with the market
- Transparent weighing and all rates at one place
- Immediate payment at the Agri produce
- Crop Advisory – The company has several excellent Agri experts who are always there for the customers.
- Soil testing
- Free crop and field inspection by Agri experts
- Prevention, consultation & cure of crop diseases
- 24 x 7 helpline support
- Free consultation & guidance from sowing to reaping is provided by the company by their expert Agri advisors
- Financial – Loaning / Financing
- Credit facility during the season
- Agricultural equipment financing
Freshokartz – Growth
Freshokartz has seen tremendous growth in the past few years. Some of the growth factors of the company are as follows:
- Freshokartz has around 40 farm centers across various states in the country.
- They have more than 90,000 farmers connected to their company.
- The company has around 200 B2B customers.
- Freshokartz sends its products to more than 15 districts.
- They have partnered with more than 100 businesses.
- Freshokartz has more than 2000 different products available on its platform.
Freshokartz – Partners
The startup has partnered with various companies. Some of those companies are as follows:
- Reliance Retail
- Chambal Fertilisers & Chemicals Ltd.
- Bank Sathi
Freshokartz – Funding, and Investors
The company has risen $1.6 M funding in a total of 4 rounds. Their latest funding rose on Oct 28, 2020. Some of the funding an investors of the company are as follows:
- INR 2.5 M – Convertible Note Round, Mar 1, 2018
- Undisclosed Amount – Angel Round, Sunil Kumar Singhvi, Apr 22, 2019
- $150 K – Seed Round, Innovana Thinklabs, Dec 10, 2019
- $1.4 M – Seed Round, Rajasthan Venture Capital Fund, Oct 28, 2020
Freshokartz – Competitors
Competition is in every industry and it is hard to find any place that is completely free of any kind of competition. Also, it is important to have healthy competition in the industry as it gives an edge to the consumers. Similarly, Freshokartz has many competitors in the market and some of them are performing very well. Some of the top competitors of the company are as follows:
- Intello Labs
- A revolution
Freshokartz – Challenges Faced
Challenges are a part of life and we all have to face them to become successful. Freeshokartz also had to face various challenges in their entrepreneurial journey. Some of the major challenges faced by the company are as follows:
- Trust factor – A lot of farmers in India still like to go by their traditional method of farming and do not believe in the power of science or technology. So gaining their trust and partnering with them was a challenge for the company.
- Climate change – This is one of the major challenges in the agriculture sector. No amount of technology can fight with nature and after a point of time, you have to make your peace with this thing. So, there’s a lot of uncertainty in this sector and this directly affects the revenue of the company.
- Government Policies – Government policies in India related to farm laws and agriculture are not that progressive. This is a challenge for all the companies in this sector to fight this issue.
- Competitors – Freshokartz is a new startup and it already has various competitors in the market. Some of them are good players and they have a good customer base as well. It was quite difficult for the company to make space for itself in this congested sector.
Freshokartz – Future Plans
Freshokartz has some of the most amazing and exciting plans for the future. Some of the upcoming plans of the company are as follows:
- The company will soon partner with more businesses and firms.
- They are looking to hire more employees in the coming years as their business is growing at a rapid rate.
- Freshokartz will increase their connection with more farmers from the rural areas to make their life simpler and to provide better prices to them.
- The startup is also looking to increase the number of farm centers across the country by the end of FY 2023.
- They will start delivering their products in more districts.
- They are also planning to increase the variety of products on their platform.