Founders & their story

• Sudhir Devkar
• Priya Devkar

Kryzen Biotech stands at the forefront of the agritech industry, pioneering the construction of vertical farming ecosystems that redefine agricultural productivity. With a track record of over 40 completed farm setups, their expertise lies in optimizing space utilization to achieve maximum production capacity. Through innovative solutions and cutting-edge technology, they empower growers to harness the full potential of their land, even within limited spaces. At the core of their offerings is HydroBuild, a sophisticated remote farm automation system meticulously designed to manage hydroponic systems and processes. Hydroponics, a soilless farming technology, forms the backbone of their approach, enabling their clients to achieve unparalleled yields and efficiency. By leveraging HydroBuild, growers can automate critical tasks, monitor plant health, and optimize resource utilization, ensuring consistent and high-quality harvests.

In tandem with their commitment to technological innovation, they have developed Price Watcher, an AI-powered tool that revolutionizes commodity price prediction. Developed in-house, Price Watcher employs advanced algorithms to analyze market trends and forecast commodity prices with remarkable accuracy. This empowers growers to make informed decisions, mitigate risks, and maximize profitability in a dynamic market environment. Moreover, through their Buyer’s Connect platform, they facilitate seamless transactions between growers and agricultural commodity buyers across India. By expanding market reach and fostering connections within the industry, they enable growers to unlock new opportunities and drive business growth.

Their comprehensive suite of services extends beyond technology and market connectivity. From initial site inspections to detailed project reports, they provide end-to-end support for hydroponic farm setups. Their team of experts offers tailored recommendations to optimize return on investment and ensure long-term success. Additionally, they provide ongoing software and automation support for farm management, coupled with agronomy expertise to address any challenges growers may encounter. In terms of financials, their solutions offer compelling returns on investment. With an initial capital expenditure starting from 15 lakhs, growers can expect monthly earnings ranging from 1 to 1.25 lakhs. Furthermore, the produce cultivated through their hydroponic farms commands a premium of 30-40% compared to traditionally grown produce, further enhancing profitability and market competitiveness.

Through their unwavering commitment to innovation, expertise, and customer satisfaction, Kryzen Biotech continues to lead the agritech industry towards a more sustainable and prosperous future for agriculture in India and beyond.

About the company

GreenTable, an innovative venture, introduced their inaugural FSSAI-approved dry herb product, GreenTable, in 2022. This marked their entry into the market with a product tailored to meet regulatory standards. In the same year, RGCPL came into the fold through a strategic equity alliance with Royal Greenhouse Construction India Pvt Ltd. This partnership saw them embark on the development of hydroponics, laying the foundation for future endeavors.

Prior to this, in 2021, they unveiled Rebound Flawless, a hydroponically cultivated sweet Italian basil product, showcased on leading e-commerce platforms like Amazon and Flipkart within the beauty segment. Additionally, they initiated work on hydroNEXT, a comprehensive farm management software designed for hydroponic farming, offering a glimpse into their commitment to technological innovation. Furthermore, 2021 saw the launch of Know Hydroponics, an educational platform aimed at enlightening urban farmers through crash courses on hydroponic practices. Simultaneously, they commenced the hydroBUILD project, focusing on automating farm processes and developing proprietary software and PCB designs.

The groundwork for their educational initiatives was laid earlier in 2020 with the introduction of Hydroponic Masterclass, catering to the educational needs of urban farmers. This initiative witnessed substantial engagement, with over 40,000 individuals benefiting from their expertise. Their journey towards technological advancement began in 2020 with the inception of Agriscreener, an algorithm aimed at enhancing market analysis in the agricultural sector, thus reflecting their foresight into industry trends.

Expanding their horizons in 2019, they augmented their farming operations and established a research center to innovate value-added products from their farm produce. This expansion was further bolstered by the establishment of a hydroponic farm in Satara, marking their foray into practical farming endeavors. Preceding this, in 2018, they pioneered Price Watcher, an initiative undertaken in Bangalore to analyze market dynamics, particularly focusing on price fluctuations in the vegetable market.

Their journey traces back to 2017 when Sudhir and Vikrant embarked on a mission to revolutionize Indian farming and foster a community of urban farmers. This visionary approach laid the groundwork for their subsequent ventures and innovations. As a premier turnkey commercial hydroponics farm project development entity, they specialize in setting up farms with optimal ROI potential, emphasizing both vertical and horizontal growth through forward and backward integration strategies. Serving as a mainstream learning partner for agricultural universities, Kryzen Biotech is committed to empowering urban farmers through sustainable technology and modern farming techniques, thereby contributing to the advancement of controlled environment agriculture. Their overarching mission is to empower 1 lakh urban farmers in the field of hydroponics and soil-less farming through the integration of advanced technologies, artificial intelligence, and machine learning.

Revenue

In the projected financials for FY 23-24, Kryzen Biotech anticipates a significant surge in sales, with projections reaching 5 crores, compared to 1.25 crores in FY 22-23. This substantial growth is indicative of their expanding market presence and the increasing demand for their innovative solutions. The sales split for FY 23-24 reflects a strategic focus, with 95% of revenues stemming from farm setups and the remaining 5% attributed to courses. This allocation underscores the company’s core competency in providing comprehensive solutions for vertical farming ecosystems, while also leveraging supplementary revenue streams through educational initiatives. Despite the substantial increase in sales, Kryzen Biotech maintains a conservative approach to profitability, projecting a 5% profit margin for FY 23-24. This prudent strategy ensures sustainable growth and investment in research, development, and customer support to further enhance their market leadership position.

Founders’ Ask 

75 lakhs for 3% equity at the valuation of Rs. 25 crores.

Offers

Peyush’s offer: 75 lakhs for 15% equity at the valuation of Rs. 5 crores and 2% royalty until 1.5 crores is recouped.

Founder’s Counteroffer

75 lakhs for 10% equity at the valuation of Rs. 7.5 crores and 2% royalty until 1.5 crores is recouped.

Final Deal

Peyush: 75 lakhs for 15% equity at the valuation of Rs. 5 crores and 2% royalty until 1.5 crores is recouped.