Organic food is the new buzz in the food and health industry. Organic food refers to the items produced without the use of chemical fertilizers, pesticides, animal antibiotics, etc. With growing awareness about the harmful effects of using pesticides and chemicals in agriculture, the demand for organic food products has increased significantly.
Keeping in view this increasing demand for organic food products and the many benefits associated with them, Siddhagiri’s Satvyk, a startup in Kolhapur, Maharashtra, has come up with a wide range of organic food products produced using organic techniques and processed using classical healthy methods.
Siddhagiri's Satvyk - Company Highlights
| Start Up Name | Siddhagiri’s Satvyk |
|---|---|
| Headquarter | Kolhapur |
| Founder | Akshay Agarwal & Gajendra Choudhary |
| Sector | Organic Food |
| Founded | 2016 |
| Parent Organisation | Siddhagiri's Satvyk |
Siddhagiri's Satvyk - Introduction
Siddhagiri's Satvyk - Industry Details
Siddhagiri's Satvyk - Founder
Siddhagiri's Satvyk - The Idea and Starting Up
Siddhagiri's Satvyk - Name, Tagline and Logo
Siddhagiri's Satvyk - Product
Siddhagiri's Satvyk - Business and Revenue Model
Siddhagiri's Satvyk - Customer Acquisition
Siddhagiri's Satvyk - Funding
Siddhagiri's Satvyk - Challenges
Siddhagiri's Satvyk - Competitors
Siddhagiri's Satvyk - Achievements
Siddhagiri's Satvyk - Advisors and Mentors
Siddhagiri's Satvyk - Future Plans
Siddhagiri's Satvyk - FAQs
Siddhagiri's Satvyk - Introduction
Satvyk was founded in 2016 by Akshay Agarwal. According to Akshay, Siddhagiri's Satvyk is more than just organic food, it is a completely healthy lifestyle. It strives to bring to its patrons an organic lifestyle and make their lives easier and healthier.
Going organic or growing organic demands a lot of diligence and patience. At Satvyk, we strive to develop and nurture the most transparent direct-from-source food supply systems. In the process, we are constantly working on building a sustainable livelihood for Satvyk Farmers & Producers and giving back to the Mother Earth!, said Akshay Agarwal, founder of Satvyk.
Satvyk aims at creating a robust value chain from farmer to customer, thereby creating a sustainable and secure food system. The company’s vision is to create a sense of purpose that is larger, greener, and more sustainable.
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Siddhagiri's Satvyk - Industry Details
According to APEDA (Agricultural and Processed Food Products Export India), India exported organic food products worth $515 million in the financial year 2017-2018. Major demanding organic food products are oilseeds, cereals, and millets, sugar, fruit juice, etc.
The organic products market in India has been growing at a CAGR of 25 percent and it is expected to touch INR 10,000 - 12,000 crore by 2020 from the current market size of INR 4,000 crores according to a report produced jointly by Assocham and Ernst & Young.
Siddhagiri's Satvyk - Founder
Akshay Agarwal and Gajendra Choudhary are the founders of Siddhagiri's Satvyk.
Akshay Agarwal is a CA and CFA by qualification. Before starting Satvyk, he was working as an Investment Analyst with Edelweiss ARC.
Gajendra Choudhary is a commerce graduate and he was into a well-established textile business before starting Satvyk.
Siddhagiri's Satvyk - The Idea and Starting Up
Akshay always wanted to do something that left a positive impact on society. He once got an opportunity to volunteer in an event named Bhartiya Sanskriti Utsav in Kolhapur at Siddhagiri Gurukul Foundation, which focused on Ancient Indian Culture and Techniques. This event made him realize the richness of Indian culture. He understood how the age-old Indian techniques of Farming, Ayurveda, Construction, Management, Food Science, Education, etc. were practical and scientific. Akshay was especially drawn to topics like food science and organic farming.
Akshay wanted to gather more knowledge on farming, so he started researching about organic farming, meeting various experts in the field, conducting farm visits, and attending organic farming sessions during weekends and holidays and after work. The research was an eye-opener for Akshay. He got to know about various chemicals like oxytocin and Sulfaz which are used for agriculture and may have serious side-effects on health.
Akshay was determined to make a change to this scenario. He continued researching for almost 10 months and then in February 2016, he launched Satvyk. Satvyk’s first outlet was launched in Kolhapur with over 100 products on board. Gajendra Choudhary, Akshay’s bench buddy from school got himself so connected with the concept and was more than willing to be part of the Satvyk journey. Leaving behind a textile business that was well-established for 30 years and set up by his father, Gajendra joined Satvyk.
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Siddhagiri's Satvyk - Name, Tagline and Logo
Shree Adrushya Kadasiddheshwar Swamiji, the Head of Kaneri Math, Kolhapur, suggested the name Siddhagiri’s Satvyk. Siddhagiri means the Land of the Wise Men representing our farmers and Satvyk symbolizes pure and unadulterated.
Siddhagiri’s Satvyk’s tag line is The Health re-Store.
Siddhagiri's Satvyk - Products
Satvyk serves its customers 100% organic food products. Satvyk deals in Groceries, Spices, Oils, Ghee, Salt and Sweeteners, Beverages, Personal care, health foods like Chyawanprash, etc. The USP of Satvyk's products is that all are completely organic.
Satvyk provides farmers with organic seeds and full-time assistance for farming activities. Once the produce is harvested, the same is acquired in its entirety, cleaned, graded, packed by Satvyk, and made available to the customers.
Satvyk is connected with more than 8,000 organic farmers across India. Despite having 100% organic produce, farmers from extreme rural parts of India do not have any marketplace to sell their produce. Satvyk connects such farmers to the customers directly, thus ensuring the direct-from-source supply of organic produce.
Satvyk has also created a marketplace on its website wherein farmers across the country can list their organic produce online and sell them to consumers, thus creating a direct-from-source organic supply system.
"At Satvyk we strive to bring in the specialty from the locations we work in. For Example, Satvyk gets the teas namely black tea, green tea, herbal tea, CTC tea, etc. from the Tea gardens of North-East, Wild Honey comes from the Himalayan ranges and Sahyadri ranges, Wheat from Drylands in Karnataka, Apples from Himachal, etc ", says Gajendra Choudhary, Founder of Satvyk.
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Siddhagiri's Satvyk - Business and Revenue Model
Farmers from various states like Rajasthan, Uttar Pradesh, Karnataka, Tamil Nadu, Assam, West Bengal, and many more across India are an indispensable part of the Satvyk family. The assistance required by the farmers to cultivate healthy and organic produce is provided by Satvyk. Authentic organic Indian seeds are made available to the farmers to ensure the production of good quality products.
Our Agricultural Experts are at constant beck and call to provide any assistance required to our Farmers. They frequently visit their Farmlands and ensure that the product is healthy. - Founders of Satvyk.
On harvesting of products, the entire production is acquired by Satvyk and is processed. Organic produce is cleaned, graded, packed, and is readied for sale. To make Organic products easily available, Satvyk has its outlets in a few cities with a website which caters to customers all over the country.
Customers from any place in India can place their order on Satvyk's website 'www.satvyk.com' and get good and healthy food delivered at their doorstep. This is the B2C model which comprises a major chunk of Satvyk’s business.
To ensure higher awareness among people about organic lifestyle, Satvyk has also started a B2B model in the forms of franchisee outlets and online availability of Satvyk products on major E-Commerce websites.
Siddhagiri's Satvyk - Customer Acquisition
Satvyk is a bootstrapped venture and so the company did not spend heavily on hoardings or paper ads. It started participating in exhibitions in and around Maharashtra. Satvyk was able to make profits from the sale of its products at the stalls. Thus, Satvyk was able to reach thousands of enthusiastic customers.
The company also organized shopping festivals to attract customers.
Satvyk set up franchisee networks with an aim to reach out to a larger customer base. The first franchisee of Satvyk was set up in Hubli. Satvyk now has 7 Franchise outlets and also has distribution in metros like Chennai and Mumbai.
"We focused more on cities tier II and below initially as we found no proper source of organic food in those cities. No one was ready to start one as well as there was low awareness as compared to metros", says Akshay Agarwal.
Siddhagiri's Satvyk - Funding
Satvyk is currently bootstrapped.
Siddhagiri's Satvyk - Challenges
Akshay and Gajendra both came from separate backgrounds so starting Satvyk was quite challenging for them. A lot of issues cropped up in the initial days of Satvyk’s launch. The foremost of them all was the higher pricing of organic produce, higher transportation costs, insects attack on the grains, inexperience, labor issues, etc.
Akshay recalls, "The journey was definitely supposed to be a challenging one, but we were all set. This was surely out of our comfort zone, but that is where the beauty of life lies. We kept patience. Discussed with various people regarding the issues. We find ourselves very fortunate to have found some wonderful friends in the field who would find out time just to help us".
Satvyk introduced nitrogen flushing in the grains and stored the bulk in hermetic bags to prevent insects' attack. It made deals with local transporters to reduce transportation costs. Satvyk also offered its farmers a buyback guarantee and increased its procurement to reduce raw material costs.
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Siddhagiri's Satvyk - Competitors
Currently, many companies are selling organic goods in India. Organic India, farm2kitchen, and 24 Mantra Organic are some of the competitors of Satvyk.
Our competition is with ourselves and we are putting efforts to make our products and services better with time.
Siddhagiri's Satvyk - Achievements
Over the years, Shiddhagiris’s Satvyk has been able to carve a niche for itself in the Indian organic food market. Some of the major achievements of Satvyk are:
- It has 7 franchisee stores across India. The stores are located in Kolhapur, Satara, Chennai, Sindhudurg, Islampur, Hubli, Ichalkara.
- It has distribution in metros like Chennai and Mumbai and is receiving distribution and franchisee requests almost daily.
- The company ships products nation-wide and has loyal customers all across the country.
- Its product portfolio is increasing. From 100 products initially, the company now deals in more than 150 products.
- Satvyk team works with individual farmers and farmers’ organizations from around 10 states in the country.
- Satvyk is being noticed and appreciated for applying ancient processing techniques like wood-pressing oils, stone-grinding the flours and pulses, preparation of desi cow ghee as per Charaka Samhita, etc.
A message you receive from a customer saying that his wife is suffering from cancer and needed real honey to help her tongue feel better which have been all scratched due to heavy dosages of chemotherapy which he found at Satvyk is what makes your day. Or a call you receive from a Kerala family staying in Mumbai informing that the coconut oil we received from Satvyk has been the same we used to eat 30 years ago in our village makes you feel proud.
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Siddhagiri's Satvyk - Advisors and Mentors
Shree Adrushya Kadasiddheshwar Swamiji - The Head of Siddhagiri Math, Kaneri, Kolhapur is the guiding light behind Satvyk. He has established a great connection with farmers and farmers’ communities across India, thanks to his in-depth knowledge of the field. He is a knowledge-library in terms of Indian Culture. He is the man behind one of the best museums across the continent based on Indian village life.
CA Abhishek Zaware - A qualified Chartered Accountant, he runs Ekatvam Academy, one of the premium institutions for CA Coaching in Pune. He has always played a great role in helping organizations devise strategies about marketing and finance. Akshay has been his student and has been under his guidance since then.
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Siddhagiri's Satvyk - Future Plans
Satvyk's future plans include increasing its reach to different parts of the country by opening new outlets and through franchise stores. Satvyk also plans to launch an app through which new farmers can connect with Satvyk for selling their organic products in bulk.
Siddhagiri's Satvyk - FAQs
Who is the owner of Siddhagiri's Satvyk?
Akshay Agarwal and Gajendra Choudhary are the founders of Siddhagiri's Satvyk.
What is Siddhagiri's Satvyk?
Siddhagiri's Satvyk is more than just organic food, it is a completely healthy lifestyle. It strives to bring to its patrons an organic lifestyle and make their lives easier and healthier.
What are the Products offered by Satvyk?
Satvyk serves its customers 100% organic food products. Satvyk deals in Groceries, Spices, Oils, Ghee, Salt and Sweeteners, Beverages, Personal care, health foods like Chyawanprash, etc.
Author: Chayanika Goswami
Source : https://startuptalky.com/siddhagiri-satvyk-organic-food-products/
Date : 2020-09-05T10:29:00.000Z