MUMBAI, 27 May 2021: Hyderabad-based Agritech start-up, OneBasket has announced that it will be opening two new branches in Bangalore and Chennai by August 2021.
The total Investment expected in opening these branches along with strengthening their online presence is INR 2 crores. Onebasket is present virtually through website and a Mobile app and has a physical office in Hyderabad presently.
The company provides agri produce made from desi seeds, which, according to their market research, is most preferred in the southern part of India. Desi seeds are also known as Hybrid seeds as they are not genetically modified and are considered better than organic.
In a short span of one and half year from starting operations, Onebasket has become a bridge between farmers and Consumers, where the farmers that are on the platform are directly receiving orders from the consumers. Onebasket is a full-stack agritech start-up that ensures the traceability and standardisation of Agri-products. The company is addressing the supply-demand gap in the non-perishables segment and is creating a Win-Win situation for Farmers and Consumers alike.
OneBasket was started by serial entrepreneurs, Madhusudan Reddy and Narsi Reddy Posham in 2019. Since starting operations, OneBasket has surpassed USD one million in revenue.
The Idea behind the project lays in the fact that India has the largest farming community in the world but is lagging in a Farmer & Consumer friendly supply chain. The technology developed is able to link farmers with consumers in a subscription model offering repeatable quality from month on month with a price advantage.
Speaking about the development, Founder Madhusudan Reddy said, “Onebasket has been designed to meet the needs of the farmers and consumers alike. The Farmers are underserved and consumers are underinformed about the produce they consume. According to our Market research, Bangalore and Chennai emerged as cosmopolitan cities with varied regional preferences of Groceries that are not met by current market. Consumers in these cities emphasise on quality of farm produce more. We see a very high demand in products that can be sourced from specific region and variety.”
“We are excited to enter these markets ahead of scheduled time. With an overwhelming response to our platform, we are glad to bring the much-needed difference in the agriculture sector in India,” Reddy added.
OneBasket app uses artificial intelligence and image-based traceability to ensure standardisation of agri products. Farmers can sell directly to customers, ensuring complete authenticity and traceability all the way – from the type of seed selected, to the milling process and storage conditions.
