Apna Godam – Startup Insight
|Startup Name||Apna Godam|
Apna Godam – About and how it Works?
82 % of the farmers in the country are small and marginal so the capacity to go to Mandi is continuously decreasing due to smaller Produce. Mandis are less in the country so the solution lies with Technology. Apna Godam helps the farmers sell their produce from the farm itself without going anywhere to the best buyer in the country. The price discovery is done AI based. Apna Godam has a network of logistic partners to execute the transactions.
Apna Godam – Mission and Vision
Apna Godam’s mission is to increase the income of the Farmers by ensuring better price for their produce.
Apna Godam’s Vision is to help each farmer to sell his produce online without going anywhere and should have equal opportunity to sell irrespective of size of produce.
Apna Godam – Name, Tagline, Logo and its Meaning
Apna Godam (Ab mandi Kisan ke Dwar)
Now farmer can sell his produce online without going anywhere
Apna Godam – Business and Revenue Model
Apna Godam is a one stop solution in Post-harvest Segment in non-perishable category. The company provides 4 Services i.e., Warehousing, commodity finance, Online Mandi and Logistics. The company has the Business partners who offer warehousing, Commodity finance and Logistics services. The company charge rent for the storage solution provided and the interest for the amount lent. Company charge transaction fee for every trade done on portal.
All the services are linked with a Wallet which is a closed loop wallet.
Apna Godam – Funding and Investors
Company is so far bootstrapped and largely dependent on Bank Loans.
Apna Godam – Partnerships
The Company relies on Banks and NBFCs for Lending business. The company also appoints Logistics Partner in every Village who manages logistics for Spot selling.
Apna Godam – Challenges Faced
The first transaction was really very difficult. They had to explain the farmers that the money will come into account and you need to check the price on the mobile application and you need to sell on app only. The Arhatiyas tried their best to misguide not to use their application. Couple of Questions were:
- Money will not come into account
- They will first deposit money in the account and will debit your account immediately
- They will cheat you while doing weighment
- Police will ask you about the money credited in your account
- Farmers avoided to update KYC on the application with doubt that their balance will be swiped away
However when the First transaction was done with the help of Application ;then the app went viral and there were more than 200 bookings started to come third day onwards when they could not handle so much bookings and they had to cut short their area of operations.
Apna Godam – Acquisitions
No acquisition done and no plan in near Future.
Apna Godam – Future Plans
The company is planning to do the procurement operations within Rajasthan and Madhya Pradesh in first 2 years. Currently only these two states are giving online Mandi license to private sector. They have already got the license in Rajasthan and have applied in MP.
Apna Godam – Awards
- The company Got 25 Lacs from RKVY through NIAM for the Farm pick up model
- Emerging start-up award received from Ray Consulting
Apna Godam – Competitors
There are many players in the industry who are engaged in the commodity trade. However, Operating Online Mandi and trading into commodity both are difference things.
In Online Mandi category, a few licenses are given in Rajasthan apart from Apna Godam. In Madhya Pradesh we have applied for the licence and rest States have amended their laws to allow private sector online Mandi but yet not started giving license. This is a very new category so a very few players are there so far.
In some states APMC laws are not there like Bihar and Kerela so Players in these states are not solving the problem which are there in the states having APMC systems.
Apna Godam – Latest News
The Portal of APNA Godam is integrated with eNAM and now Farmers can avail services of APNA Godam through the eNAM APP and vice versa.
Apna Godam – Social Media Links
Frequently asked questions (FAQs)
What is Apna Godam?
Apna Godam is a post-harvest solution company working mainly in the non-perishable category. It is the first notified online Mandi in Rajasthan. Apart from Spot trading of commodities it also provides Warehousing, Commodity Finance and Logistic services as value-added services.
Who is the founder of Apna Godam?
Sanjay Agarwal is the founder of Apna Godam.