I Say Organic

I Say Organic Foundation Story

I Say Organic is a social enterprise that aims to provide people with safe and healthy food options. The company focuses on organic and sustainable produce, supporting farmers who grow these crops. Here is a look at how I Say Organic began and the vision behind it.

Vision and Early Days

I Say Organic was founded on the principle of making organic and sustainable produce easily accessible to consumers. The idea stemmed from a need to address the root of the problem – the food people eat and the people who grow it. In India, agriculture is a significant source of livelihood for over 70% of the population, making it crucial for economic development.

The company's vision is to connect farmers who want to grow organic or sustainable produce with customers who want to buy it. This approach ensures that farmers get a fair deal and consumers get healthy food. I Say Organic started by partnering with producer companies and farmer groups, beginning with Dharani Suphalam in Sirsa, Haryana, in December 2011.

Since March 2012, I Say Organic has been delivering fresh organic and sustainable produce across Delhi. The company believes in making this produce as easily available as making a phone call[1]).

Founding Team Background

Ashmeet Kapoor, the founder of I Say Organic, has a background in electrical engineering and entrepreneurship. He graduated from the University of British Columbia and later pursued a master’s in entrepreneurship from Brown University. Before starting I Say Organic, Kapoor worked with a startup and was involved in a project to provide affordable potable water in West Bengal[2]).

Kapoor's experience in rural India made him realize the struggles farmers face in earning a sustainable livelihood. He decided to focus on improving the situation for these farmers by promoting organic farming. Kapoor spent four months in a village in eastern UP, leasing a hectare of land to start organic farming. However, convincing farmers to adopt new practices was challenging, leading him to return to Delhi and collaborate with other organic farmer groups[2]).

Kapoor established Jagriti Agro Tech Private and set up I Say Organic under its name. Despite initial roadblocks, Kapoor was determined to make the business work, recognizing it wasn't an easy venture but one that was necessary[2]).

I Say Organic Business Evolution

I Say Organic has evolved significantly since its inception. From its early days of partnering with farmer groups to its current state of delivering fresh produce across Delhi, the company has made notable progress. Here’s a look at its business evolution and key milestones.

From Initial Concept to Current State

The initial concept of I Say Organic involved connecting farmers with consumers directly. Kapoor's research and experience in rural India shaped this idea. He realized that farmers needed support to transition to organic farming, and consumers needed easy access to organic produce. This concept has remained the core of the business as it has grown[2]).

Today, I Say Organic delivers fresh organic and sustainable produce to customers across Delhi. The company has expanded its partnerships with farmer groups and producer companies, ensuring a steady supply of high-quality produce. The startup view of the company's operations helps in quickly managing projects and deliveries[1]).

The company's growth has been steady, with a focus on making organic produce convenient for consumers. This approach has helped in building a loyal customer base and supporting sustainable agriculture practices[1]).

Key Growth Milestones

I Say Organic has achieved several key milestones since its inception. One of the significant milestones was partnering with its first farmer group, Dharani Suphalam, in December 2011. This partnership marked the beginning of the company's operations and set the stage for future growth[1]).

By March 2012, the company had started delivering fresh organic and sustainable produce across Delhi. This marked a significant achievement in making organic produce accessible to a wider audience[1]).

In terms of revenue, I Say Organic has seen steady growth. By 2013, the company was generating a revenue of Rs 10 lakh per month, indicating a strong market demand for its services[2]).

Product Portfolio Expansion

I Say Organic's product portfolio includes a variety of organic and sustainable produce. The company offers fresh fruits and vegetables, which are sourced directly from farmer groups. Over time, the company has expanded its product range to include different types of produce, ensuring that customers have a diverse selection to choose from[1]).

The company also provides templates for creating content bins based on search terms, which helps in organizing and delivering the produce efficiently. This approach ensures that customers can easily find and purchase the produce they need[1]).

The product portfolio expansion has been driven by customer demand and the company's commitment to supporting sustainable agriculture. By offering a wide range of organic produce, I Say Organic caters to the growing demand for healthy and sustainable food options[1]).

I Say Organic Technology Infrastructure

I Say Organic's technology infrastructure plays a crucial role in its operations. From managing deliveries to connecting farmers with consumers, the company's technology platform is designed to be efficient and user-friendly. Here’s a look at the core platform architecture, security framework, and innovations in the industry.

Core Platform Architecture

The core platform architecture of I Say Organic involves a simple and intuitive interface. The company uses technology to manage its operations, from startup views that help in quickly getting to projects to search functions for finding specific produce. The platform is designed to be user-friendly, making it easy for customers to place orders and for farmers to manage their produce[1]).

The platform includes features like workspace layouts for different tasks such as importing, editing, and exporting produce. This helps in streamlining the process and ensuring that all aspects of the business are well-managed[1]).

The company also uses templates for creating content bins based on search terms, which helps in organizing the produce and delivering it efficiently. This approach ensures that customers can easily find and purchase the produce they need[1]).

Security and Compliance Framework

I Say Organic ensures that its technology platform is secure and compliant with industry standards. The company focuses on maintaining the quality and safety of the produce, which includes adhering to strict guidelines for organic and sustainable farming practices[1]).

The security framework involves ensuring that all data exchanged between farmers and consumers is protected. The company uses secure payment gateways and ensures that customer information is kept confidential[1]).

In terms of compliance, I Say Organic follows all relevant regulations and standards for organic and sustainable produce. This includes ensuring that the produce is free from toxic chemicals and pesticides, aligning with the company's vision of providing safe food options[1]).

Innovation in its Industry

I Say Organic has been innovative in its approach to the organic produce market. By connecting farmers directly with consumers, the company has disrupted traditional supply chains and made organic produce more accessible. Here are some key innovations:

• Direct Farm-to-Table Model: I Say Organic's direct farm-to-table model eliminates intermediaries, ensuring that farmers get a fair price for their produce and consumers get fresh, high-quality products[1]).
• Technology-Driven Platform: The company's use of technology to manage operations and connect farmers with consumers is a significant innovation. This approach makes the process efficient and user-friendly[1]).
• Sustainable Agriculture Practices: I Say Organic promotes sustainable agriculture practices, which are essential for environmental conservation and ensuring the long-term viability of farming[1]).
• Customer Convenience: The company's focus on making organic produce convenient for consumers has been a key factor in its success. By delivering produce directly to customers, I Say Organic has made healthy food options easily accessible[1]).

Company Market Impact

I Say Organic has made a significant impact on the market by promoting organic and sustainable farming practices. Here’s how they have achieved this:

User Base Growth

I Say Organic started small but has grown significantly since its inception in 2011. The company initially partnered with its first farmer group, Dharani Suphalam in Sirsa, Haryana, and began delivering fresh organic and sustainable produce across Delhi in March 2012[6].Today, I Say Organic works with over 3,000 farmers in seven farmer groups, sourcing products from several states in India. This extensive network allows them to cater to a wide user base, ensuring that more people have access to safe and healthy food[7].The company's user base growth is also driven by its convenient delivery system. Customers can easily order fresh fruits, vegetables, and grains, which are delivered with minimal packaging. This convenience has attracted a loyal customer base who value the health and sustainability of the produce they consume.

Market Share Expansion

I Say Organic has expanded its market share by targeting various segments. The company aims to make organic produce easily available to everyone, not just a niche market. By partnering with producer companies and connecting farmers directly with consumers, they have managed to increase their market presence[6].Their goal is to expand delivery services across India, partnering with hotels, restaurants, and companies for bulk orders. This strategy helps them reach a broader audience and increase their market share in the organic produce sector[7].Here are some key strategies for market share expansion:

• Direct-to-Consumer Sales: Delivering fresh produce directly from farmers to consumers.
• Bulk Orders: Partnering with hotels, restaurants, and companies.
• Online Presence: Serving as the go-to retailer for online organic food orders.
• Expansion to New Cities: Aiming to be present in 10 cities within five years.
• Making Organic Mainstream: Working towards a future where organic produce is the norm.

Financial Inclusion Initiatives

I Say Organic focuses on financial inclusion by creating lucrative opportunities for farmers. The company recognizes that agriculture is a significant source of livelihood for over 70% of India's population and aims to improve the economic conditions of farming households[7].By sourcing produce directly from farmers and ensuring fair prices, I Say Organic helps farmers earn better incomes. This approach not only benefits the farmers but also contributes to the overall economic development of the country.Here are some financial inclusion initiatives:

• Fair Pricing: Ensuring farmers receive fair prices for their produce.
• Direct Payments: Eliminating middlemen to ensure farmers get paid directly.
• Supporting Farmer Groups: Working with multiple farmer groups to create sustainable income sources.
• Economic Empowerment: Helping farmers improve their economic conditions through sustainable farming practices.
• Community Development: Contributing to the economic development of rural communities.

Company Financial Journey

I Say Organic's financial journey is marked by significant milestones and challenges.

Revenue Growth Story

I Say Organic has seen steady revenue growth since its inception. The company's operating revenue ranges from INR 1 crore to 100 crores for the financial year ending on 31 March 2023. This range indicates a substantial revenue base, reflecting the company's growth in the market[8].The revenue growth is driven by the increasing demand for organic and sustainable produce. As more consumers become conscious about the health and environmental impact of their food choices, I Say Organic's revenue continues to grow.Here are some key factors contributing to revenue growth:

• Increasing Demand: Growing consumer interest in organic and sustainable produce.
• Expanding Customer Base: Delivering to a wider audience across Delhi and beyond.
• Diverse Product Range: Offering a variety of fresh fruits, vegetables, and grains.
• Convenient Delivery: Ensuring easy and convenient ordering and delivery processes.
• Strategic Partnerships: Collaborating with producer companies and farmer groups.

Path to Profitability

I Say Organic's path to profitability has been challenging, with some fluctuations in financial performance. For the financial year ending on 31 March 2023, the company's EBITDA decreased by 16.21%, and its book networth decreased by 29.71%[8].Despite these challenges, the company remains committed to its core principles of sustainable production and responsible consumption. By focusing on these principles, I Say Organic aims to achieve long-term profitability and stability.Here are some steps towards profitability:

• Cost Management: Optimizing operational costs to improve margins.
• Efficient Supply Chain: Ensuring a streamlined supply chain from farmers to consumers.
• Market Expansion: Continuing to expand services across India.
• Diversifying Products: Offering a range of organic and sustainable products.
• Customer Loyalty: Building a loyal customer base through quality and convenience.

Investment Rounds and Valuations

I Say Organic has not publicly disclosed detailed information about its investment rounds and valuations. However, as a private limited company, it has an authorized share capital of INR 2 crores and a total paid-up capital of INR 1.16 crores[8].The company's financial health and growth potential make it an attractive option for investors who support sustainable and organic farming initiatives.Here are some potential investment areas:

• Sustainable Agriculture: Investing in organic and sustainable farming practices.
• Supply Chain Improvement: Enhancing the efficiency of the supply chain.
• Market Expansion: Supporting expansion plans across India.
• Technology Integration: Investing in technology to improve operations and customer experience.
• Farmer Support: Providing financial support to farmer groups.

Company Strategic Partnerships

I Say Organic has formed several strategic partnerships to enhance its operations and impact.

Banking Collaborations

While specific details on banking collaborations are not available, I Say Organic likely partners with banks to facilitate financial transactions and support its farmer groups. These partnerships can help in providing loans and other financial services to farmers, ensuring they have the necessary resources to maintain sustainable farming practices.Here are some potential banking collaboration benefits:

• Loans and Credit: Providing financial assistance to farmers.
• Transaction Facilitation: Simplifying financial transactions between farmers and consumers.
• Financial Advisory: Offering advice on financial management and planning.
• Insurance Services: Providing insurance coverage for farmers against crop failures and other risks.
• Digital Banking: Implementing digital banking solutions for easy and secure transactions.

Merchant Partnerships

I Say Organic partners with producer companies and farmer groups to source its products. These partnerships are crucial for ensuring a steady supply of high-quality organic produce. By working directly with farmers, the company can maintain quality standards and support sustainable farming practices.Here are some key merchant partnerships:

• Producer Companies: Partnering with companies that support organic farming.
• Farmer Groups: Working with multiple farmer groups across several states.
• Local Farmers: Collaborating with local farmers to ensure fresh produce.
• Organic Certifiers: Partnering with organizations that certify organic produce.
• Logistics Providers: Working with logistics companies to ensure efficient delivery.

Technology Alliances

I Say Organic may leverage technology to enhance its operations, though specific details are not provided. Technology alliances could involve using software for managing supply chains, customer relationship management, and online ordering systems.Here are some potential technology alliances:

• Supply Chain Management: Using software to manage the supply chain efficiently.
• Customer Relationship Management: Implementing CRM systems to improve customer service.
• Online Ordering Systems: Developing user-friendly online platforms for ordering.
• Data Analytics: Using data analytics to improve operations and customer experience.
• Digital Payments: Integrating digital payment solutions for easy transactions.