|Minimum investment||100 ICG|
Biofunder is a virtual decentralized organic food market. It allows consumers to order fresh produce from farmers directly, and also solves problems of delivery and marketing. Farmers will grow products, and Biofunder will take over logistics and help the farmer find financing, attract buyers and analyze the market.
To start the project, we identified cities with a kind of market for foodtech online orders and logistics channels that would satisfy the following criteria: a large population, a high level of purchasing power and a developed culture of consumption of organic products. In the future, the project will expand the geography of its activities in other major cities of the world: Berlin, Hamburg, Munich, London, Brussels, Paris, Hong Kong, Tokyo, Seoul, Kuala Lumpur, Singapore, Los Angeles, San Diego, Chicago, New York
The closest business model to us is Good Eggs, which delivers fresh products directly from the manufacturer. The company was founded in 2011 and currently has attracted $ 46.5 million investment.
One of the related business models is the delivery of products by subscription, the theme is that customers do not receive products one time, but regularly with a certain time interval.
For the first time such a model was created by the Swedish company Linas Matkasse, which was founded in 2008 and today has a revenue of about $ 120 million. This model has become more widespread, primarily in the United States and European countries. In 2011 and 2012 respectively, Blue Apron (USA) and HelloFresh (Germany, England, Benelux countries) were founded. In 2017, both companies entered the IPO, and after it Blue Apron was estimated at around $ 1 billion, and HelloFresh – at $ 1.8 billion. In addition, Marley Spoon, competing with HelloFresh in Europe, can be noted.
The market for organic products is the fastest growing segment of the food market. From 2000 to 2015, it grew more than fivefold – from $ 18 billion to $ 90 billion, which is more than 10% of the global agricultural market. According to forecasts, by 2020 the market volume will reach about 212 billion dollars.
INVESTMENTS IN FOOD TECH INDUSTRIES
The foodtech market (technology and services related to the food industry) is one of the most dynamic in the world. Here are just a few facts: according to CB Insights, during 2014, in the United States, a company in this segment attracted more than $ 1 billion in venture financing, which is 272% more compared to the same period in 2013. In recent years, a number of companies have appeared on the foodtech services market, valued at more than $ 3 billion. The food market volume in the online ordering food segment alone, according to Rocket Internet, in 2016 was $ 324 billion.