Onato is a startup from India that focuses on the agri-supply chain. It was founded in February 2021 by Vedant Katiyar and Ashish Jindal. The company is based in Bengaluru and has quickly made a name for itself in the $100+ billion fruits and vegetables industry in India.
Onato's vision is to streamline the agri-supply chain in India. The founders saw a lot of inefficiencies in the current system, such as fragmented volumes, arbitrary pricing, and complex credit management. They wanted to use technology to solve these problems and make the supply chain more efficient[1].
The early days of Onato involved a lot of planning and research. Vedant Katiyar, who was previously the co-founder of agritech startup Gobasco, explored various agritech business models before launching Onato. Ashish Jindal, with his experience in building technology at companies like Amazon and Swiggy, brought a strong tech background to the table[1].
Their initial concept was to create a data-driven B2B platform for fresh produce. This platform would connect various stakeholders directly and use data from both the demand and supply sides to bring transparency in volume and pricing.
Vedant Katiyar is an alumnus of FMS Delhi. Before Onato, he was the co-founder of Gobasco, another agritech startup. He has a deep understanding of the agricultural sector and its challenges[1].
Ashish Jindal graduated from IIT Delhi and has over nine years of experience in building technology. He worked at companies like Amazon, Swiggy, and Astrotalk, and also co-founded CodeYeti. His technical expertise has been crucial in developing Onato's platform[1].
Both founders bring a unique set of skills and experiences that complement each other, making them a strong team to drive Onato forward.
Onato has evolved rapidly since its inception. From securing significant funding to expanding its operations, the company has made significant strides in a short period. Here is a look at its evolution.
Onato started with a simple yet powerful idea: to use technology to improve the agri-supply chain. The founders identified key bottlenecks such as inefficient supply chains, arbitrary pricing, and complex credit management. They developed a platform that connects suppliers and buyers directly, using real-time data to ensure transparency and timely payments[1].
Today, Onato's platform is more sophisticated. It uses data analytics to help farmers and suppliers make informed decisions. The platform also ensures that payments are made on time, reducing the financial burden on farmers and small suppliers.
The company has also expanded its services to include tools for demand and supply forecasting, helping stakeholders to anticipate and prepare for market changes.
One of the key milestones for Onato was securing $2.2 million in seed funding. This round was led by Vertex Ventures Southeast Asia and India, with participation from Omnivore. This funding has been crucial for talent acquisition and scaling up operations[1].
Another significant milestone was the launch of their digital intervention and robust fulfillment process. This has eased the burden of credit in the supply chain and helped in reducing income instability for farmers[1].
Onato has also expanded its user base, connecting more farmers, suppliers, and buyers across India. This growth has been driven by the company's focus on providing a user-friendly and efficient platform.
Onato's product portfolio has expanded to include various tools and services. One of the key services is the creation of content bins based on search terms, which helps in organizing and accessing data more efficiently.
The company has also introduced features for real-time data analysis and decision-making tools. These tools help farmers and suppliers to make better decisions based on market trends and demand forecasts.
In addition, Onato has developed a system for ensuring timely payments, which has been a major issue in the agri-supply chain. This system reduces the financial burden on farmers and small suppliers.
Onato's technology infrastructure is robust and designed to support its mission of streamlining the agri-supply chain. Here is a look at the core components of its infrastructure.
Onato's platform is built on a data-driven architecture. It connects various stakeholders directly and uses real-time data to bring transparency in volume and pricing. The platform is designed to be user-friendly, making it easy for farmers and suppliers to use[1].
The architecture includes tools for demand and supply forecasting, payment management, and credit facilitation. These tools are integrated into a single platform, making it a one-stop solution for the agri-supply chain.
The platform is scalable, allowing it to handle a large number of users and transactions. This scalability is crucial for Onato's growth plans.
Onato takes security and compliance very seriously. The company has implemented a robust security framework to protect its users' data. This includes using state-of-the-art technologies such as firewalls, intrusion detection systems, and encryption.
The compliance framework ensures that Onato adheres to all legal and regulatory requirements. The company conducts regular risk assessments and implements controls to mitigate potential risks. Continuous monitoring and review of these controls are also part of the framework.
Onato also fosters a security-aware culture within the organization, emphasizing the importance of compliance and cybersecurity best practices among employees.
Onato is innovating in the agri-supply chain industry by bringing transparency and efficiency through technology. The company's use of real-time data and analytics is a significant innovation. It helps stakeholders make informed decisions and reduces the volatility in prices and wastage[1].
Onato's platform is also innovative in its approach to credit management. By ensuring timely payments, the platform reduces the financial burden on farmers and small suppliers. This approach is unique in the industry and has been well-received by users.
The company's focus on user-friendly tools and services is another area of innovation. Onato's platform is designed to be easy to use, even for those who are not tech-savvy. This makes it accessible to a wider range of users.
Onato, an agritech startup from India, has been making significant waves in the agricultural supply chain sector. Here’s how they are impacting the market:
Onato has been focusing on expanding its user base, particularly among farmers, suppliers, and buyers in the agricultural industry. The platform connects these stakeholders directly, which helps in increasing the number of users.
Founded in February 2021 by Vedant Katiyar and Ashish Jindal, Onato has seen rapid growth. Katiyar, an alumnus of FMS Delhi, and Jindal, who has experience working at Amazon and Swiggy, brought their expertise to create a robust platform. This expertise has helped in attracting more users to the platform.
The user base growth is also driven by the need for better supply chain management in the agricultural sector. More than 60% of India's population depends on agriculture, yet the tech penetration in this sector is low. Onato's platform fills this gap by providing tools for regular supply, payment guarantees, and business management[6][7].
Onato is expanding its market share by addressing the challenges in the agricultural supply chain. Here are some key points:
The Indian fruits and vegetables (F&V) industry is vast, with a value exceeding USD 100 billion. However, it faces issues like arbitrary price setting, unreliable payment schedules, and lack of real-time data. Onato’s platform brings transparency in pricing and ensures timely payments, which helps in expanding its market share[6][7].
Onato is also working on financial inclusion initiatives to support farmers and small business owners.
The platform ensures that farmers receive timely payments, which is a significant issue in the agricultural sector. By providing payment guarantees, Onato helps in stabilizing the income of farmers, reducing the need for them to exit farming due to financial instability[6][7].
Additionally, Onato’s tools help small and medium-sized businesses to access new business opportunities. This not only expands their revenue streams but also helps in reducing their credit burden over time[6].
Onato’s financial journey is marked by significant milestones and strategic decisions.
Onato’s revenue growth is tied to its expanding user base and market share.
The company has seen an increase in revenue as more farmers, suppliers, and buyers join the platform. The transparency in pricing and the reliability of payments have made the platform attractive to stakeholders in the agricultural supply chain[6].
The revenue growth is also driven by the company’s ability to provide valuable services such as business management tools and real-time data. These services help in streamlining the supply chain, which in turn increases the revenue for all participants[6].
Onato is working towards achieving profitability by scaling its operations and improving its services.
The company plans to use the funds raised from investors to scale up its operations and acquire more talent. This will help in enhancing the platform’s capabilities and improving user experience, which is crucial for achieving profitability[6][7].
By addressing the core issues in the agricultural supply chain, such as arbitrary pricing and unreliable payments, Onato aims to create a more stable and profitable environment for all stakeholders. This stability is key to the company’s path to profitability[6].
Onato has secured significant investment to support its growth.
In 2021, Onato raised USD 2.2 million in a seed financing round led by Vertex Ventures Southeast Asia & India, with participation from Omnivore. This funding is being used for talent acquisition and scaling up operations[6][7].
The investment round reflects the confidence of investors in Onato’s potential to transform the agricultural supply chain. The company’s valuation is expected to increase as it continues to expand its market share and improve its services[6].
Onato is building strategic partnerships to enhance its services and reach.
Onato may collaborate with banks to improve financial inclusion for farmers and suppliers.
While specific details on banking collaborations are not available, it is likely that Onato would partner with banks to ensure timely and secure payments. Such partnerships would align with Onato’s goal of stabilizing the income of farmers and reducing financial risks[6].
Onato partners with merchants to expand its reach and services.
Merchant partnerships are crucial for Onato as they help in connecting buyers with suppliers directly. This reduces the role of intermediaries and makes the supply chain more efficient[6].
These partnerships also help in providing a wider range of products and services to the users. By collaborating with merchants, Onato can offer more options to buyers, which in turn increases user satisfaction and loyalty[6].
Onato is building technology alliances to enhance its platform.
Onato’s technology platform is designed to bring transparency and efficiency to the agricultural supply chain. By partnering with technology companies, Onato can improve its data analytics, real-time tracking, and other technological aspects of the platform[6].
These alliances can also help in integrating new features and tools into the platform. For example, using advanced data analytics to predict market trends and optimize supply chain operations[6].
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