Business Description:eFarm is a network of farmers, intermediaries, logistics providers, distributors and retailers, which has been formed, to procure vegetables and fruits direct from source and deliver them at low costs to consumers in the cities.Currently, over 95% of agricultural produce reaches the end consumer through unorganized and unregulated marketing channels, which is the primary reason for high price fluctuations, wastage, unreliability and poor quality. eFarm is working on 'organizing' this 'un-organized' rural to urban supply chain and create an easy, economical and efficient sourcing and distribution network. This ensures better prices for all members in the chain. For details : http://www.matchboxsolutions.in/eFarm.html
Industry:Agribusiness/ Agriculture
Founded in:2007
Source of idea:Developed family or friend?s idea
Significant Competitors:Our competitors are currently handling one or more areas of the entire supply chain problem space, for.e.g ITC e-Chaupal, SAFAL/SNX, Branded agri retail outlets like Reliance fresh, commission agents in local mandis/wholesale markets.
Company Details :
Company Name:eFarm / Matchbox Solutions
HeadQuarters:Chennai
Stage of the company:Scaling up
No of Employees (2006):Did not exist
No of Employees (2007):0-5
Office Locations(2006):Did not exist
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):breakeven
>Partnerships:Farmers associations of Tamil Nadu, Farmers market (Theni, Hosur) , Organic farmers association, TN Tamilnadu Agricultural University (guidance & leads), Indian bank Microsate II, Nivedita NGO, Montforth Community Development services (NGO)
Initial Funding:Personal savings
Addl Funding:Family & friends
Institutitional Capital:No
Revneue Model:Being a perishable commodity, vegetable sales have traditionally been cash & carry. We have taken it one step further, and have even started advanced payment model to ensure buy-in from customers and lock in best prices by advance payments to farmers. We are a pay-per-use transactional platform where all stakeholders are paid/receive payment on item procured or service rendered.
Awards & honors:None yet
Promoters Details :
Promoters Name(s):venkata Subramanian
Age:36
HomeTown:Chennai
Education:Masters IIT
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Program Manager at Wipro
Ex-Job Description:Insurance, Capital markets
Favorite Book/Movie:Bhagavad Gita
