Farmdrop Foods

An innovative agritech company that is revolutionizing the way potatoes are grown, harvested, and distributed in East Africa.

Convertible Note   KE AgriTech Pre-seed
Expired

$26,750
11% of the goal raised

10
Investors

$250,000
Target

25%
Discount

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Highlights

  • 💰Farmdrop has generated $50,000 in revenue over a period of 6 months
  • 🥔 Supplied more than 150 tonnes of potatoes
  • 👩🏽‍🌾Established partnerships with farmers who collectively own over 600 acres of potato land, which Farmdrop manages and controls
  • 👥Collaborated with over 30 clients, including high-end customers
  • 🚚Successfully completed over 50 deliveries directly from the farm.

Convertible Note
Financial Instrument

$10
Minimum investment

$1,000,000
Valuation cap

July 15th, 2024
Deadline

Pitch

Farmdrop is an innovative AgriTech company that is revolutionizing the way potatoes are grown, harvested, and distributed in East Africa. With a strong focus on technology, storage solutions and logistics, we are committed to transforming the potato industry and creating a more efficient and sustainable supply chain.

PROBLEM
In the potato industry, farmers encounter multiple challenges. Firstly, they struggle to access reliable markets for their produce, facing difficulties in connecting directly with urban markets and thus having limited sales opportunities. This issue is exacerbated by exploitative brokers who take advantage of the farmers' limited bargaining power. Secondly, traditional farming methods heavily rely on natural factors like rainfall and weather conditions, leading to fluctuations in potato yields. As a result, the supply of potatoes becomes inconsistent, making it challenging for vendors and consumers to access a reliable and steady potato supply throughout the year. These problems in market access and supply consistency pose significant challenges for farmers and other market participants in the potato industry.

SOLUTION
Farmdrop provides a comprehensive solution to address the challenges faced by farmers in the potato industry. By offering wide access to urban markets through their extensive network, farmers can expand their customer base and market opportunities, reducing reliance on limited sales channels. Farmdrop's state-of-the-art storage facilities ensure the preservation of potatoes, extending their shelf life and maintaining a consistent supply even during scarcity periods. With reliable transportation services and efficient distribution networks, Farmdrop ensures seamless farm-to-market delivery, preserving the quality and freshness of the produce. Additionally, by empowering farmers with data-driven precision farming techniques, Farmdrop enables informed decision-making, leading to higher yields, reduced costs, and improved sustainability. Through these integrated solutions, Farmdrop aims to empower farmers, optimize the potato supply chain, and create a more sustainable and profitable environment for all stakeholders involved.

MARKET SIZE
$450,000,000

BUSINESS MODEL
Farmdrop operates as a potato wholesaler, buying potatoes from farmers at wholesale prices and selling them to vendors at higher retail prices. The startup generates revenue through the profit margins earned from these sales.

TRACTION/MILESTONES
Vendor: Farmdrop has partnered with over 30 vendors.
Acres Controlled: Farmdrop manages and controls over 600 acres of land.
Weekly Supply: Farmdrop supplies approximately 10 tonnes per week.
Revenues: Farmdrop has generated $50,000 in revenue over a period of 6 months.

LONG TERM GOALS
Potato Hub: Establish Farmdrop as a prominent potato hub, supplying to food chains across East Africa and expanding to markets beyond the region. This expansion aims to enhance the availability and accessibility of potatoes to a broader customer base.
State-of-the-Art Storage Facilities: Develop and provide state-of-the-art storage infrastructure capable of storing and preserving thousands of potatoes for scarcity periods. These advanced storage facilities will ensure a consistent supply of high-quality potatoes throughout the year, meeting market demands.
Logistics Solutions: Enhance Farmdrop's logistics capabilities to efficiently transport potatoes and expand the logistics network to include the supply of perishable goods over long distances. This expansion aims to offer comprehensive and reliable transportation solutions, supporting the efficient delivery of potatoes and other perishable products to various markets.

USE OF FUNDS
- Acquire/Lease farm lands: We plan to acquire or lease additional farm lands to reduce costs and increase our control over potato production, aiming for 40% of our produce to come from our own farms.
- Purchase new trucks for logistics: Investing in new trucks will help us streamline our logistics operations, reduce transportation costs, and ensure timely delivery of potatoes to our vendors and customers.
- Increase our storage facility: We intend to expand our storage facility to accommodate a larger volume of potatoes and enhance our capability to preserve them for extended periods, ensuring a consistent supply throughout the year.
- Increase supply capacity: By investing in our operations and optimizing our production processes, we aim to increase our overall supply capacity, allowing us to meet the growing demand for our potatoes and explore new market opportunities.
- Expand to new cities in the region: We plan to establish warehouses and distribution centers in new cities where there is a demand for our products. This expansion will enable us to reach more customers, strengthen our partnerships with vendors, and establish a strong market presence in multiple cities within the region.

Overview

Location: KE | farmdropke |

Team



Joshua Okari
Field Operations Manager

Joshua Okari is the Field Operations Manager at Farmdrop, responsible for overseeing the day-to-day operations on the farms.



Ian Osoro
Customer Relations Manager

Ian Osoro is the Customer Relations Manager at Farmdrop. He is dedicated to building strong relationships with clients, addressing their inquiries and concerns, and providing exceptional support.



Esther Manoti
Head of Finance

Esther Manoti serves as the Head of Finance at Farmdrop. Esther plays a vital role in ensuring the financial stability and growth of the company. She oversees all financial operations, including budgeting, forecasting, and financial analysis.



Emmanuel Musumba
Warehouse Manager

Emmanuel Musumba is the Warehouse Manager at Farmdrop, responsible for overseeing the efficient operations of the storage facilities. With a strong background in logistics and warehouse management, Emmanuel ensures that the storage facilities are properly maintained, potatoes are stored in optimal conditions, and inventory is accurately tracked.



Edward Oirere
Founder & CEO

Edward Oirere is serving as the Founder and CEO of the company. Edward has led Farmdrop from its inception to its current success. As a software engineer by profession, he brings a unique blend of technical expertise and entrepreneurial spirit to the company.



Kipchirchir Taragon
Logistics Manager

Kipchichir Taragon is the Logistics Manager at Farmdrop, leading the transportation and logistics operations. With his strong background in supply chain management and expertise in optimizing logistical processes, Taragon ensures that our potatoes are efficiently transported from the farms to our storage facilities.

Documents
Company documents

Pitch deck
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