Stevie-winner Agribid Private Limited is a farmer-friendly business-to-business marketplace specializing in the sale and purchase of agri-commodities with every stakeholder along the agribusiness chain, including farmers, traders, corporate consumers, and global buyers.
Launched in late 2020 by Ashutosh Mishra, Manoj Suvarna, and Chetan Suvarna, it is their company vision to be the most preferred marketplace for agri-products globally. Since launching, 300 farmer producer organizations (FPOs) have signed up to benefit from Agribid’s business model.
Agribid sees that the plight of small farmers across India is due to fragmented land holding. In the market, a small farmer does not have any control on price—not due to a lack of trading options—but in accordance with the concept of economies of size: the average cost per unit of production decreases as the size of the farm increases. With an average land holding of 2 to 3 acres each, a small farmer can produce a crop of 2 to 5 MT. Such a low quantity would never interest a big trader who is looking for 1 truck load (10 MT) minimum size for optimizing logistical costs.
According to Agribid, the solution is aggregation. Using their integrated platform, they seek to empower farmers by aggregating them in order to achieve the best price from buyers across India and globally.
In addition, as a company policy, Agribid does not charge farmers for their services—aggregation will be free for life to all participating farmers. In fact, the company has committed to sharing a portion of revenue with the FPOs who have joined. Agribid expects the farmers to utilize these extra funds to improve farmer welfare, machinery, and storage facilities.
Agribid plans to expand the Indian base from 11 to 23 states and its global presence from three countries to nine. Since winning their Stevie Award, they have been named one of the 20 Most Promising Startups to Watch in 2022 by Business Connect.
Agribid won a Bronze Stevie Award for Most Innovative Startup – Business Services Industry in the
2022 Asia-Pacific Stevie Awards.
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