Portfolio Spotlight: Easy Rice
Easy Rice Digital Technology is an agritech company that digitizes and enhances quality assessment (QA) of staple food to make staple food delivery from farm-to-fork quicker, cheaper, and healthier.
What products does Easy Rice offer?
Phuvin: We offer software asset service solutions to buyers who want to assess and determine the quality [of rice].
Why did you decide to founder Easy Rice?
Phuvin: When I was a rice exporter, I saw the suffering of farmers, who, as you may know, in Thailand have a problem with income disparity. I totally believe that if I can utilize technology to inspect and asses to improve the quality of their product. We can help them increase their income, and they can provide quality and sufficient money to pay their cost of reaping.
What countries does Easy Rice currently operate in? What is your market reach?
Sujitra: We operate in Thailand because it's our home country, but we are also looking at some exporting countries such as Vietnam, Indonesia, Bangladesh, and India. Even not only exporting countries we are also looking at importing countries in Asia.
What is the current market for easy rice and the market potential?
Sujitra: We focus on rice manufacturers who are millers and even exporters. Also, next year we’re gonna try to approach importers. For now, the size of the market is mostly from millers, exporters, and importer. Actually, anyone doing rice is gonna need our AI.
What is Easy Rice’s revenue/business model?
Sujitra: We have a yearly subscription for business borders. But after we see our data we can change it to a monthly subscription.
What is Easy Rice’s current traction to date?
Sujitra: After we receive 1 million of fundraising for the seed round and since we already launched our product 12 months ago, for now, we already have $700K so it’s about $50Kmonth.
Where do you see Easy Rice in the next 6-12 months?
Sujitra: I think if anyone’s gonna ask for rice, they’re gonna know us. Because we’re going to put our technology to every stakeholder even farmers, millers, exporters, and importers in every country. So we would like to bring our AI to solve their problem – so we’re gonna have a trading system for AI which the stakeholders will use to decide whether to buy or not [rice].
Is Easy Rice currently fundraising, how much?
Sujitra: We received $1 Million during Seed Round 2 years ago, but for this day we see $1M USD for our bit round because we would like to expand to other countries and develop new technologies as well.
Where can our audience learn more about Easy Rice?
Sujitra: Anyone can visit our website. You can type in https://www.easyrice.ai.