We, at Go4Life, are very proud to take responsibility for our entire food supply chain from livestock all the way to the consumer`s table. Now for our consumers, attributes like sustainability, food safety or animal welfare are no longer only a promise, we prove it. This is what distinguishes us from everything what was in the market before. This secures our brand and gives us a clear Unique Selling Proposition!
Go4Life has managed to deliver perceptually premium high-end food-products to over 10k+ customers in Delhi NCR and is on track to generate $2 Million + of revenues through D2C sale of milk, fruits n vegetables & groceries in Financial Year 2021. We've clocked in 2 profitable years in the past & have cumulative revenue of US$ 1.3 million till March 31st, 2021.
While Go4Life has gained consumer trust & value, we seek to make valuable and safe food products as well as well treated animals as the new currency in the market. Our LifeUXApp engages the consumer at most important touchpoints along their purchase and consumption journey - Point of Sale & Point of Consumption.
Food Trust is a burgeoning market. Agriculture & food trade remains one of the few bright spots of the global economy post COVID19. As per a research report (https://econsultancy.com/why-trusttransparency-are-crucial-components-of-brand-success/), traceable food is a basic driver for purchase with ~84% families considering the impact of how & where food was produced before making a purchase
Every citizen of the country has a fundamental right to safe and nutritious food as Article 21 (in India) imparts the right to life, and Article 47 imposes a duty on the state to raise the level of nutrition and public health by safeguarding the right to food from any adulteration. That practically make everyone our customer. However, in order to create an inclusive buy-in of the shared vision, we took a step wise approach with L1 customers from Cat A+ & A strata. And as efficiencies create a cumulative impact, we trickle the benefit to other segments as well.
From a market opportunity standpoint, our understanidbg on SAM & SOM in India is : India*: SAM: $4.5 billion SOM: $0.5 billion Global*: $ 2 Trillion with 6% Annual growth rate $300 billion value of food will be traced by 2027 ** * The State Of Agriculture Commodity Markets: Agricultural Trade, Climate Change And Food Security.” Food and Agriculture Organization of the UN, 2018 ** Ensuring Food Safety in 2020's - Cointlegraph consulting
Problem or Opportunity
Food consumers demand food transparency & safety, sustainability and animal welfare. They prefer brands that they can trust in. So far, food labels & advertisement statements are just promises. What if the brand owners that take responsibility for the entire value chain, from farm to fork, had the means to prove that they have an honest and superior food product? What if these means are a way to boost User Experience and engage with End consumers?
Solution (product or service)
Go4Life, the Digital Food Label & Consumer Touch-point on an IoT Farm to Fork Traceability platform, tracks & captures data along the entire value chain via IoT ( real-time livestock & machine data, vehicles etc.) from diverse systems and present it to consumer in order to deliver transparency, excitement & consumer engagement.
Competition - 2/3 Matrix - Actual & Direct – iFoodDS, Connecting Food, TE-Food Actual & Complementary - CrowFarm (OTIPY), MilkBasket, BB Daily Actual & Indirect - FarmERP, Other software providers, ITC/ Sunfeast etc Potential & Direct - Int’l players (Avalon Dairy, AfMilk, Bellucci Olive Oil) Potential & Complementary - Int’l Software Providers (Ripe.IO, Thrive) Potential & Indirect - IBM/ Deloitte
Advantages or differentiators
Unlike other players, we take a whole chain approach. Along the entire value chain from Farm (down to livestock or field) to Fork, batches are tagged & data from IoT-sensors, proprietary ERP & 3rd party-systems is captured. As a result, a Digital Twin of the entire food manufacturing and supply chain is drawn. With this information we feed the G4L LifeUXApp which the consumer can use at the most important touch points of the user experience: Point-of-Sale & Point-of-Consumption. The app does not only deliver transparency, trust as well as user experience to the hereby educated consumer, it also provides a tool for any digital marketing initiative. The corresponding back-end applications of the G4L-Platform builds the foundation to: • Secure Safety & Quality of Manufacturing and Logistic Processes along the entire Value Chain • Monitor pre-Stage-Suppliers •Apply Technologies such as Artificial Intelligence to •-Product Development •-Human centered robotic Process Automation •-Operations Research •-Efficient Disaster Management •Comply with Food Safety Legislation
Primary source of revenue is sale of traceable farm fresh produce ( Milk, fruits & vegetables, staples).
Money will be spent on
1. Product and Platform expansion is our number one priority. Our focus is primarily on emerging markets as most of the food supply chain issues occur in emerging countries. These countries also lack the technology for traceability systems. Cattle, fruits, and vegetables tracking is already implemented in Northern India. In addition to Pan-India scale, we’re also looking to target 2 more countries as well in next 2 years and will include full implementation of blockchain and fish/seafood tracking. 2. Talent acquisition 3. Working Capital Management