Seventy per cent of the Indian population lives in rural area. The main occupation of people from rural India is agriculture. The economy of India depends a lot on agriculture. It has a major contribution to the Indian GDP. Unfortunately, we have seen a majority of farmers committing suicide due to the burden of loans and low income. Where does the revenue go?
When the yield is excellent, and the farmer enters the market to sell it, the middleman takes his commission which decreases the income of farmers. To tackle this issue, a Delhi based Agritech startup TechnifyBiz is helping farmers by removing the role of middleman in the business. The farmers can directly sell their commodities to the food processors and wholesale buyers. The farmers have been promised a profit of approximately two hundred per cent to three hundred per cent because of this action.
Which all commodities can a farmer sell?
Recently TechnifyBiz has provided a platform for ten commodities, namely cashews, raisins, walnut, makhana, pista, chia, quinoa, sunflower seed, and watermelon seeds. In the next two years, they are planning to include up to 50-60 more commodities on their platform — the startup targets only non-perishable products.
Who does Technifybiz remove the middlemen?
Brokers, wholesalers, and mandi traders are removed by the startup. The farmers can directly get in touch with the big players in the food market. The Big players include Reliance Retail, Haldirams, Big Basket, Flipkart, Metro Cash & Carry, and Grofers.
How does the startup work?
The workflow consists of 6 steps. The price of the commodities is updated daily on the website. The commodities buyer can place the order at the best suitable cost. One the order is placed, the reports on the quality of the commodity are sent to the buyer. If the buyer is satisfied with it, the payment is initiated by the buyer. The product is delivered at the doorstep of the buyer. TechnifyBiz takes care of the entire supply chain by itself.
Where is the startup operational?
TechnifyBiz Is operational in Bihar, Karnataka, Rajasthan, Andhra Pradesh. Around 15,000 farmers from these states have been benefited, and more than 1,500 large orders have been processed on the TechnifyBiz platform. The startup is having a monthly run rate of Rs. 7 crores and have witnessed a growth rate of 70 per cent in the last four to five months. It aims to target Rs. 1,000 crores in the coming 2-3 years.
The startup has created an excellent initiative for farmers and an establishment of organized agriculture economy. We hope more and more farmers get benefited by TechnifyBiz.