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Farm2Kitchen
Global Food Marketplace with Food Traceability
Farm2Kitchen® is building a decentralized Food Traceability platform on the Blockchain for the Food Distribution industry. The Blockchain is a distributed digital ledger to track the food at every stage of the supply chain from the farm all the way to the kitchen.
We are providing secure Application Programming Interfaces (APIs) for Software Developers to build apps to access the platform.
To protect people from unsafe food, you have to be fast and you have to be right – and Farm2Kitchen® Blockchain technology offers a chance to improve speed, accuracy and trust levels as never before.
Farm2Kithen® founders have already successfully delivered Food Traceability solutions to farmer producer organizations in India. In sustainable agriculture space since last 5 years, Farm2Kitchen® is also a pioneer of organic food retailing in India.
Farm2Kitchen®, a food (organically grown as well as traditionally produced) distribution startup, has operated an online store and several retail stores across western India for the past five years. They have developed a network of over 100,000 small farmers and producers and provided them the training and resources to grow organic food. This business has grown from a modest initial investment of $60,000 raised from friends and family.
Our founders bring a diverse experience from Food Production, Distribution, Supply Chain Management (SCM) and Information Technology (IT) specializing in the Food industry. We are utilizing our experience and the huge network of farm producers, food packagers, retailers, and food services to envision the portfolio of products and solutions that will address the critical problems faced by the food industry.
Farm2Kitchen® is building the first technology platform of its kind for the Food Supply Chain- which will be a Global Food Marketplace, A Farmers Network while providing food traceability along the whole supply chain. By utilizing the Blockchain technology of distributed ledger and smart contracts to uniquely track every step of the food delivery on a shared ledger in order to ensure transparency, Food Safety and provide the foundation for sustainable agricultural growth and food security.
Traceability solutions by Farm2Kitchen® Blockchain provide an excellent way to be sure food conforms to the requirements of people’s religious beliefs or respects their lifestyle choices. Various bodies around the world have been created to certify that food and food premises are halal, kosher, organic or eco-friendly. Farm2Kitchen® Blockchain Traceability Platform can make their work easier.
Farm2Kitchen® Platform will be a Global Food Marketplace and will help connect - Smaller local food participants with little infrastructure, 600 million urban farmers worldwide who grow food and raise animals, Urban farmers who produce 15-20% of the world’s food. Farm2Kitchen® is also distrupting the Organic Food Traceability and Distribution from Institutional system of trust to Distributed system of trust.
We will make the technology platform available on the public Cloud as a Software as a Service (SaaS) application on subscription basis for other food services to use around the world. Apart from the SaaS offering, we will provide Application Programming Interface (API) access for developer who would like to build their own apps for the platform.
The company expansion plan will be supported by raising money from an Initial Coin Offering (ICO). Sales projections for the next three years are based on current sales success with the target customer base in Southeast Asia and GCC countries. This plan will result in sales revenues growing to a breakeven point by the end of the second year of operations.
I like this as a concept and thnk that the team is very strong to execute this . Team is marked down due to the amount of tokens for advisors who are getting same amount as the team. On the full raise tokens for advisors are 1.8M USD and that I think is excessive and it makes no sense to me to have team and advisors getting the same amount. I can see chances for traction and like the use of hyperledger. The raise does seem high on assumption most dev will be done in India . It would be important to understand if any dev work was being done by related companies and at what margins or pricing Overall I like it but advisors tokens and total raise seem out of line
Blockchain | Tokenization Strategist| Whitepaper|Tokenomics | BD| Technical- Market Analyst Rated on Sep 5, 2018 Modified on Nov 1, 2018
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5
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White paper - The white paper has outlined the problem plaguing supply chain in food industry but has failed to address how they would bring it on distributed ledger (using QR codes? RFID? Lot number tracking? Other possibilities). For this business to grow, a lot of collaborations are necessary to be made but no mention of partners or affiliates. The white paper also lacks a clear goal of future business development beyond the obvious roadmap.
Team - The team composition reflects a healthy mixture of various capabilities needed to make the project click and the team is experienced in their respective industry. This makes it strong and possibly able to deliver on their promises.
Tokenomics - The tokenomics is easy to understand including the reasonable use of funds. The tokens have vesting period for both advisors and founders with 10% each for both. The unsold token is will presumably be burnt (Is it hard coded in the token distribution code or would be done manually?- No information.
Business Model - The business model requires partnerships and collaborations which has not been highlighted. Requires the active participation from various fields for the tokens to be self-sustainable. The buyback offer is good for investors; but achieving operational profit by 2020 is a bit too soon. Generally, a successful product based ICO breaks even by 3-5 years (unless it’s an exchange) Clarifications?
MVP/ DApp/ Working Product - No working model yet or even an MVP. This makes the project a bit on the weaker side despites its promising idea and strong team.
Based on inputs and recent events, I am re-rating the project-
KYC Passed.
"It’s a B2B project. It’s a democratic solution and we don’t expect the cost of food to go up significantly with this. The idea is the restaurants will pay the same what they pay right not but just cut out too many middlemen" - Reply from team.
Partnership with MoolyaCoin for scaling.
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