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Agroblock

Traceability-as-a-Service for Agricultural supply chain

India, Karnataka
Market: Logistics and warehouses, Farming, Transport, Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 08/13/2019
Min investment
$  150.000
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Total required
$ 500.000
Rating
equalizer 301 из 1000
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Idea

The idea of this product is to enable single-step traceability, end to end visibility and accountability in the agricultural supply chain by leveraging IoT and Blockchain.

Current Status

The product is currently in Beta with early trials with two paid customers and two more customers signed in.

Market

The customer, in this case, is a supply chain company who is the major stakeholder amongst all his supply chain partners for moving a specific line of product. The customer can also be the final destination stakeholder of the supply chain who will be the end customer of the product moving through the supply chain. We are currently targetting SME supply chain companies who deal with special Agri supplies related to organic, GI, seafood and also premium and luxury products like wine.

As per our estimates in the APAC region, there are over 100k SME supply chain companies and retailers who deal in such produces and can be possible partners.

Problem or Opportunity

Agroblock addresses the problem of supply chain traceability for the agricultural products which come at a premium or are perishable. Most supply chain companies and their partners deal with this problem on a daily basis where the consignments are either not well protected in transit or lost. This has an impact on their margins and leads to endless follow-up, reconciliations, and additional manual supervision. By building a traceability system which provides end to end visibility of supply chain and all logistical events, the operational efficiency of the overall process can be improved, both in terms of time savings and lower cost of supervision and reconciliation.

Solution (product or service)

Agroblock is a traceability-as-a-service platform that is built upon three pillars of multi-party asset transactions. Traceability, Visibility, and Accountability. Traceability traces the asset/shipment/consignment back to its origin, through a trail of all upstream supply stakeholders. Visibility provides the view of all logistical events performed by the stakeholders. Accountability keeps track of any mishandling, or degradation of the quality of the produce in the supply chain, especially applicable for perishable produces.

The solution is offered under a SaaS model with a cloud-hosted service that mimicks the supply chain and a operations support system consisting of mobile apps and IoT devices.

Competitors

ripe.io
AgriDigital
TEFood
BlockGrain
IBM FoodChain


Advantages or differentiators

Evidential traceability for supply chain
IoT Automation
Private Blockchain

Finance

We sell the solution like the typical SaaS subscription model with a monthly subscription fee and a one-time deployment/setup cost.

The one-time deployment cost takes care of building up the cloud service for the virtual setup of the customer's supply chain and the business process. It costs a minimum of $15k.

The subscription cost is based on the number of transactions with 15 cents per transactions with a minimum volume of 10k transactions which makes it a monthly subscription fee of $1500.

Business model

The business model is modeled around the SaaS subscription model.

There are three components,

1. One time deployment setup cost
2. Monthly subscription cost
3. Dedicated monthly support cost (optional).

Money will be spent on

30% in Team expansion and Talent development.
30% in R&D in IoT, Cloud computing & Blockchain
20% in Marketing in Global, Events & Digital Marketing
20% Admin cost, Infra & Legal

Offer for investor

10% equity or option for convertible note

Team or Management

Risks

Market adaptation of Blockchain
Technology risk in cost of deploying Blockchain at scale

Incubation/Acceleration programs accomplishment

Incubated under IIIT-Bangalore, Innovation Center

Won the competition and other awards

Elevate 2018 Winner for idea to PoC grant
Future Agro Challenge 2018, FInalist
InfinIT20, 2018 winner

Photos

Photo 1 - Agroblock

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address