A mechanical engineer turned into a successful entrepreneur, Madhusudan Reddy- founder of One Basket is keen on improvising the supply chain by connecting the farmers and the end consumers through its online grocery store.
One Basket is a Hyderabad-based Agri Tech startup, started with a vision to change the supply chain of Agri products. It is an online grocery store that sells products of the finest quality from dals and pulses to edible oils and spices; by linking both the consumers and farmers.
A business venture founded by Madhusudan Reddy was born in the midst of a global pandemic, is slowly revolutionizing the agri tech space in India by using artificial intelligence and image-based traceability to ensure standardization 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.
It offers a unique option of ‘Monthly Baskets’ too, wherein you can get all your monthly groceries and essentials packed hygienically and delivered safely onto your doorstep.
One Basket offers regular commercial grade products, organic certified products, heirloom seeds amongst many others for the farmers in addition to the groceries. Customers can get information regarding any particular product, by simply scanning the QR code on any of its products.
From travelling around the world to running multiple companies in the tech space, Madhusudan says he has put in everything he has learned over the years to start this venture in the year 2020.
“One basket is an e-commerce platform where we connect end customers to farmers. Our idea is to offer end customers a really different type of agri-produce. At the same time we connect to farmers so that they know who their customers are. This allows them to plan accordingly with the preset rate so that they can farm with a lot more confidence, instead of just going the commercial route and selling their produce in the local market.”
When asked about the bottlenecks when starting this venture, Madhusudan says, “We knew that we were going to digitize the supply chain but we clearly did not know how. We tried to change the farming techniques amongst the many other changes. Finally, we decided on going back to the basics; instead of farmers going the commercial route, we tried to match the supply and demand”
The company was started last year, right when the corona situation got bad. This venture had a comparatively positive growth curve despite the global pandemic. This has been because many people were quarantined and wanted groceries to be delivered with no contact, at their doorstep. It was the right solution at the right time.
“Initially, the investment that went in was over 2 and a half crores. This year the company expects 8- 10 crores. Depending on the expansion plans, it could also grow upto 20 crores,” shares OneBasket founder, Madhusudan Reddy. .
OneBasket plans to diversify and has announced two new branches to be opened in Bangalore and Chennai by August 2021. A total of 2 crores are expected to be invested in opening these branches along with strengthening its online virtual presence.