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Farm2Kitchen
Know Your Farmer, Know Your Food
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 along with GS1 India, 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, an organic food 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 restaurants 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. 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. Farm2Kitchen is also planning to expand its operation to include distribution to restaurants, cafeterias, and food services across western India.
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 supply chains 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 Asia. Initial contacts have been made with thousands of restaurants and retail outlets throughout the western states of India and the potential target markets have been identified. 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
Database Expert, Operations Executive, Financial Platform Developer, and Project Closer Rated on Sep 16, 2018
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I know farmers. I have friends who are farmers. They are often in the field working hard, hands-on, with years of farming experience.
This team is not a team of farmers. I see no farming experience. So I question this company being able to operationalize, let alone create a token that becomes a currency.
They may be able to create an operational plan, but having credibility with farmers for them to use this platform is a completely different story.
As always I am completely happy when people prove me 100% wrong.
I am from a small farmers family and grew up in a village in Western India. I have done farming since I was a kid. I don't just know farmers, I am a farmer with knowledge about soil, seed and solutions to empower small and marginal farmers.
Having said so, Farm2Kitchen® is a company started 5 years ago to help marginal and small farmers connect with consumers. We are working with farmers, NGOs, Government and FPOs already. You can spare a minute on Google to search the term "Farm2kitchen" to get an understanding of the work that has been done before launching this ICO.
I have developed food traceability solutions for food industry already and with my deep exeperience in farming, I am the Product Owner @ Farm2kitchen®. If you check the profiles of oher team members and advisors, you will find that we have experts working in agriculture industry with deep knowledge and expertise of supply chain management.
Hope this helps to understand Farm2Kitchen® Team's experience and expertise.
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.
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