Agxes

We are addressing the critical challenge of the substantial funding gap faced by smallholder farmers in Africa, Latin America, and Asia, which is estimated at $170 billion. Currently, the financial market only extends about $50 billion in credit annually to these farmers, with commercial credit institutions contributing a minimal $1 billion. This disparity highlights a severe underfunding issue affecting around 4.5 million small and medium-sized farmers across these regions. 

By providing real-time, actionable insights and empowering lenders with enhanced risk management tools, Agxes aims to transform the landscape of agricultural finance. This not only aids in closing the vast credit gap but also supports sustainable agricultural practices by ensuring farmers have the necessary resources to thrive. The implementation of our solution could significantly reduce the number of farmers reliant on inadequate or harmful financial resources, thus contributing to the economic stability and growth of agricultural communities globally. 

The problem is multifaceted, involving several key issues: 

1. Access to Credit: Only about 32% of agricultural credit needs globally were met last year, significantly hindering farmers' ability to procure high-quality inputs and adopt efficient farming practices. 
2. Seasonality: The cyclical nature of farming demands timely financial support to meet seasonal inputs and labor costs, which is often not met due to the current rigid lending structures. 
3. Quality of Inputs: Due to inadequate financing, farmers often resort to using substandard inputs, adversely affecting crop yield and quality. 
4. Informal Credit: The lack of formal credit options drives farmers towards informal and costly credit sources, exacerbating their financial vulnerability. 
5. Risk Assessment Challenges: The agricultural sector's inherent risks—such as production risks from unpredictable weather, market and price fluctuations, and financial risks like interest rate changes—are often not adequately assessed by lenders. This leads to a hesitance among commercial credit institutions to engage deeply with the agricultural sector. 

Agxes introduces a comprehensive solution tailored to bridge these gaps through advanced technology and data integration. Our platform leverages AI to provide a dynamic interface that integrates real-time data from diverse sources, including commodity futures, weather intelligence, satellite imagery, and credit reports. This integration facilitates a more accurate and holistic risk assessment process, enabling lenders to offer more tailored and flexible financial products. 

The problem mirrors global challenges in agricultural financing, with potential market implications reaching billions of dollars worldwide. Agxes is designed for scalability and minimal localization, allowing for rapid deployment in different agricultural economies and enhancing our potential global impact.

Agxes offers a cutting-edge solution designed to transform agricultural lending through its advanced, user-friendly platform. This platform uniquely integrates an array of critical data sources—such as commodity futures, weather and hydro intelligence, satellite and aerial imagery, insurance claim reports, land and record titles, government agricultural reports and statistics, credit bureau reports and other data sources as may be available. These integrations facilitate efficient identity authentication, robust risk management, and facilitate informed decision-making for financial institutions. 

Key features of the Agxes platform include: 

1. User-Friendly Interface: Designed for both efficiency and easy access, Agxes ensures that users can navigate through complex data with ease, enhancing the user experience and operational efficiency. 

1. Real-Time Alerts and Data Access: The platform provides real-time alerts and access to data and analytics. This feature ensures that lenders and borrowers receive timely, clear, and actionable insights that aid in objective decision-making. It keeps all parties informed about evolving risk landscapes and enables them to adapt quickly to environmental shifts. 

1. Seamless API Integration: Agxes' API is crafted for effortless integration with existing systems of financial institutions, ensuring that the platform is easily accessible and adaptable, regardless of the technological setup of the institution. 

1. Credit Literacy and Flexible Financing Options: By empowering lenders to engage borrowers with tools for credit literacy, timely credit extensions, and flexible repayment options, Agxes facilitates a supportive financial environment, particularly beneficial during economic downturns. 

1. Inclusive Lending: The platform is dedicated to enabling inclusive lending practices that specifically support small and medium-sized farmers. This focus helps in bridging the gap between these farmers and large financial institutions, promoting sustainable agricultural growth. 

1. AI-Driven Solutions: Leveraging artificial intelligence, Agxes bridges the knowledge gap between lenders and borrowers, enhancing the ease of credit access. AI also plays a crucial role in the platform's comprehensive risk evaluation solutions, offering a holistic 360-degree assessment of potential risks and opportunities. 

1. Global Scalability: Agxes is designed to be scalable and requires minimal localization, making it suitable for global deployment in diverse agricultural economies. This global approach allows the platform to adapt to local data sources and ecosystems efficiently, broadening its applicability and impact. 

In essence, Agxes is more than just a technological solution; it is a strategic tool that empowers financial institutions to manage risks more effectively, make informed decisions swiftly, and engage with borrowers in a manner that promotes mutual growth and understanding. By providing a comprehensive suite of tools and data, Agxes facilitates a more connected, informed, and resilient agricultural finance sector. 

Agxes' solution primarily serves credit institutions, but the long-term impact is intended to benefit small and medium-sized farmers, especially in developing regions.  

The key target population for Agxes' immediate solution are the credit institutions, such as banks, non-banking credit institutions, and agtech companies engaged in lending activities. Agxes aims to empower these credit providers in the following ways:  

1. Broadening access to credit: Agxes' advanced machine learning-based risk assessment system simplifies the credit evaluation process, allowing lenders to reach a wider pool of potential borrowers, including the underserved smallholder farmer segment, in less time and at lower costs.  One of the main reasons credit institutions do not serve SMBs is the time required for evaluation and the low volume of business they will have with one SMB compared to the investment of the same time for a big account. Another situation that limits lending is when personal relations or references do not exist or inexperience in the industrial sector; Agxes could overcome all of these reasons.   
2. Enhancing market share: By making the credit assessment and risk mitigation process more efficient, Agxes enables lenders to serve a larger customer base and grow their market share in the agricultural finance landscape.  
3. Mitigating defaults: The comprehensive risk evaluation solutions offered by Agxes help lenders make more informed and objective lending decisions, reducing the risk of defaults and improving the overall financial health of their agricultural loan portfolios.  

While the immediate beneficiaries are the credit institutions, the long-term impact of Agxes' solution is intended to directly improve the lives of small and medium-sized farmers, especially in developing nations where access to credit is more limited. By enabling broader and more affordable access to formal credit, Agxes aims to address the key challenges faced by these farmers, such as:  

1. Improving access to credit: Increased credit availability will help farmers meet their seasonal input needs, invest in better-quality inputs, and reduce their reliance on potentially exploitative informal credit options.  
2. Enhancing agricultural productivity: With improved access to credit, farmers can make the necessary investments to increase their yields and incomes, ultimately contributing to the growth and development of the agricultural sector.  
3. Promoting financial inclusion: Agxes' solution helps bridge the credit gap for smallholder farmers, fostering greater financial inclusion and economic empowerment in underserved communities.  

In summary, Agxes' solution directly serves credit institutions, empowering them to broaden access to credit and enhance their market share, while the long-term impact is intended to benefit small and medium-sized farmers, especially in developing regions, by improving their access to affordable and timely formal credit

Our team is exceptionally well-positioned to deliver our proposed solution due to their proximity and lived experience within the target communities, as well as their diverse and complementary expertise.

Victoria, as an agripreneur in Mexico fo the past 10 years, has firsthand experience with the challenges smallholder farmers and entrepreneurs face in accessing funding and credit. Her direct, lived experience within the target community gives her a deep, contextualized understanding of their needs and barriers.  Also, as part of the US Mexico Canada trade agreement been part of the experts panels for the SMB Chapter she has had the opportunity to understand the dynamics of the region and individuals collaborating to enhance the SMB inclusion in international economic activities. This invaluable insight allows the team to design solutions that are truly responsive to the realities on the ground.

Similarly, Amrita's extensive 18-year career in credit bureaus has provided her with unique, insider knowledge of the systemic biases and exclusion inherent in many traditional lending processes. Her experience as a leader for an interneational credit Bureau in the south east asia region brings another perspective and industry expertise. Notably, Benedetta's academic and professional background in sustainable and impact finance further enhances the team's capacity to create solutions that drive positive social and environmental change - a crucial consideration for ensuring the long-term well-being and resilience of the target communities.

This affords the Agxes team valuable insights that can guide the development of more inclusive and equitable solutions, directly addressing the root causes of the problems faced by the target population.

The diversity of expertise on the Agxes team further strengthens their ability to deliver a comprehensive, 360-degree solution. With backgrounds spanning agribusiness, credit and finance, and sustainable/impact investing, the team brings a wealth of knowledge that allows them to tackle the multifaceted challenges faced by smallholder farmers and entrepreneurs in developing regions.

The team has made significant progress in validating the problem and building the foundation for our solution. Here are the key details about our current stage of development:

Problem Validation:

• We have conducted 35-40 problem-market-risk (PMR) interviews with a diverse set of stakeholders, including agri-entrepreneurs, banks, risk analysts, input and equipment suppliers.
• Through these interviews, we have thoroughly validated the key problem statements and challenges faced by smallholder farmers and credit institutions in our target market.

Data Gathering and Prototype Development:

• With a solid understanding of the problem landscape, our team is now focused on gathering and working with relevant data sources in our first target market (likely Mexico).
• We are in the process of developing the first data prototype of our solution, which will leverage advanced analytics and machine learning to address the information asymmetry between lenders and borrowers.

This phased approach, starting with extensive problem validation through stakeholder interviews, followed by the initiation of prototype development, demonstrates a methodical and user-centric approach to building our solution. By deeply understanding the needs and pain points of our target customers and communities, the Agxes team is well-positioned to develop a solution that truly addresses the core challenges.

While we have not yet served any customers or beneficiaries with a fully launched product, our thorough preparatory work lays a strong foundation for the next stage of solution development and pilot testing. This thoughtful, evidence-based approach is crucial for ensuring the long-term success and impact of our solution.

By focusing on validating the problem and building the initial data prototype, we are actively testing and refining our solution concept before proceeding to larger-scale pilot deployments, we are looking for design partners that potentially would like to test our propototype, we would like to address with more certainty how much money credits institutions could be leaving in the table by using the actual practice. This deliberate progression allows us to de-risk the solution development process and increase the chances of delivering a truly impactful and sustainable product for our target communities.

At Agxes, Victoria, Amrita, and Benedetta bring together their collective expertise and passion to generate impactful solutions. From the beginning, Agxes was driven by a mission to create real impact. Based on their professional experiences, the founders have a deep understanding of the challenges faced by smallholder farmers and entrepreneurs in developing regions.

Victoria, an agr entrepreneur in Mexico, has firsthand experience with the struggles of accessing funding as an SMB. While she was able to find solutions, she recognized that this opportunity was not available to everyone. The system does not empower people to grow based on their skills and efforts, and the financial system perpetuates deep biases and discrimination. Even entrepreneurs with strong economic records and education often struggle to secure the funding needed to grow their ventures. Through her work with development banks, Victoria has gained insights into the sweet spot for fostering economic development within the agricultural sector.

Amrita, with over 18 years of experience in credit bureaus, understands the systemic biases and exclusion inherent in many lending processes worldwide. She is committed to creating more inclusive processes that address these longstanding challenges.

Benedetta brings academic and professional expertise in sustainable and impact finance, further strengthening the team's ability to develop solutions that drive positive social and environmental change.

Together, the Agxes founders are determined to use technology as an inclusivity tool, creating opportunities for more people. However, they also recognize the value of mentorship and guidance. Solve, an initiative of MIT, aligns with their vision of fostering new voices and ideas to address pressing global challenges. By participating in Solve, Agxes aims to initially empower Mexican farmers and subsequently extend their impact worldwide.

With the support of Solve, the Agxes team believes they can scale their solution and drive lasting change, ultimately contributing to a more sustainable and equitable future for all.

Agxes approaches the challenge of expanding agricultural credit access for smallholder farmers in a new and innovative way by: 

Leveraging Integrated Data & AI-Driven Insights: This approach encompasses a comprehensive platform designed to integrate a variety of data sources, such as commodity futures, weather and climate data, satellite imagery, and financial or credit information. Utilizing advanced analytics and AI, the platform processes and transforms unstructured data into refined data artifacts. These artifacts then provide real-time, actionable insights that empower lenders to make more informed and precise credit decisions. 

  This data-driven approach helps overcome the information asymmetry that has historically limited commercial lenders' engagement in this market. By providing a 360-degree view of risks and opportunities, Agxes empowers lenders to make confident, responsible lending decisions. 

Bridging the Lender-Borrower Knowledge Gap: Agxes goes beyond just providing data - it acts as an intermediary to bridge the knowledge gap between lenders and smallholder farmers. The platform offers credit literacy tools and tailored advisory services to help borrowers better understand financing options and manage risks. 

This two-way knowledge sharing can catalyze broader impacts by building trust and stronger relationships between the financial sector and agricultural communities. As lenders gain a deeper understanding of the smallholder landscape, and farmers become more financially savvy, it can unlock new opportunities for inclusive lending and sustainable agricultural development. 

Scalable, Adaptable Technology: Agxes has designed its platform to be globally scalable, with minimal localization required to integrate into diverse agricultural ecosystems. The API-driven architecture allows for seamless integration with existing lender systems, accelerating adoption. 

This scalability and interoperability could help transform the market landscape by enabling broader replication and scaling of the Agxes model. As more lenders and agricultural communities leverage the platform, it has the potential to catalyze a shift towards more data-driven, inclusive agricultural finance practices worldwide. 

Overall, Agxes' innovative approach of using integrated data and AI to bridge critical knowledge gaps has the potential to unlock significantly more agricultural credit for smallholder farmers. By empowering both lenders and borrowers, the solution could drive positive impacts across the entire agricultural finance ecosystem. 

Inputs: 

• Integration of Diverse Data Sources: Agxes compiles and synthesizes data from commodity futures, weather and climate reports, satellite imagery, insurance claim records, land and record titles, government agricultural reports, and credit bureau reports. 

• Deployment of Advanced Analytics and AI: The platform employs artificial intelligence to analyze integrated data, providing real-time, actionable insights. 

• Provision of a User-Friendly Interface with Real-Time Alerts: Agxes offers an easily navigable interface that displays real-time updates on various risk factors and opportunities, ensuring that information is both accessible and actionable. 

• Implementation of Seamless API Integration: This allows for easy adoption by financial institutions, ensuring that the technology is readily usable at scale. 

• Enhancement of Credit Literacy and Risk Management Tools: Agxes provides tools and resources to improve understanding among both lenders and borrowers about credit processes and risk management. 

Outputs: 

• Enhanced Decision-Making by Lenders: With access to comprehensive, real-time data, lenders can make more informed credit decisions, reducing the risks associated with lending to smallholder farmers. 

• Improved Access to Credit for Farmers: The insights provided by Agxes enable lenders to tailor financial products that suit the unique needs and risk profiles of smallholder farmers, thereby improving access to credit. 

• Increased Credit Literacy Among Farmers: Farmers gain a better understanding of the financial landscape, which empowers them to make more informed decisions regarding their credit options. 

Longer-Term Outcomes: 

• Economic Empowerment of Smallholder Farmers: With better access to appropriate financial products, farmers can invest in quality inputs, enhance their production capabilities, and ultimately increase their income. 

• Sustainable Agricultural Practices: Improved financial stability allows farmers to invest in sustainable practices that lead to long-term benefits such as increased soil fertility and reduced environmental impact. 

• Resilience to Financial and Environmental Risks: Comprehensive risk management tools and enhanced credit options increase farmers' resilience to financial shocks and environmental challenges like droughts or floods. 

Evidence: 

• Third-Party Research: Studies consistently, for example the paper Without a trace: Hidden discrimination in bank loans by

  Ana Cristina B Garciaa,b (acbg@mit.edu), M´arcio G P Garciab,c
  (mgarcia8@mit.edu), Roberto Rigobonb
  (rigobon@mit.edu), show that access to appropriate financial services significantly contributes to rural or underserved segments' economic development. Research indicates that when smallholder farmers have access to credit, their investment in agriculture increases, leading to higher productivity. 

• Interviews and Feedback from Target Population: Feedback from relevant stakeholders in the ecosystem have validated both the problem statement and the Agxes solution framework designed to empower ease of credit access and satisfaction. 

Our solution sets the stage for a transformation in SMB lending practices. This shift will unlock opportunities previously out of reach, such as acquiring irrigation equipment, embracing organic production methods, utilizing sensors, and adopting other technologies to promote environmental sustainability. The ripple effects of these advancements will lead to sustained economic development, expanding the pool of SMBs capable of producing high-quality goods. This, in turn, facilitates entry into formal markets, boosts exports, and generates stable job opportunities within communities. In essence, we're laying the groundwork for a brighter future, where SMBs can flourish and contribute to broader societal progress.

Our primary impact goal is to empower smallholder farmers and small and medium-sized businesses (SMBs) in the agricultural sector by improving their access to appropriate credit and financial services. By addressing the systemic barriers that have traditionally hindered their ability to secure financing, we aim to catalyze a transformative shift in their economic prospects, sustainability practices, and overall resilience.

To measure our progress towards this goal, we have identified the following key indicators:

1. Increase in credit approval rates for smallholder farmers and agricultural SMBs:

• Baseline: Current approval rates for target segments
• Target: 5-10% increase in approval rates within 3 years

Adoption rate of our solution by financial institutions:

• Baseline: Number of institutions currently using our platform
• Target: Onboard 3-5 additional institutions within 3 years

Improvement in credit literacy and financial management among borrowers:

• Baseline: Pre-intervention assessment of credit literacy levels
• Target: 10% increase in credit literacy scores post-intervention

Uptake of sustainable agricultural practices by empowered borrowers:

• Baseline: Current adoption rates of specific sustainable practices
• Target: 10% increase in adoption rates or technologies like irrigation systems and organic agriculture within 3 years

Contribution to relevant UN Sustainable Development Goals (SDGs):

• SDG 1 (No Poverty): Indicators such as the proportion of the population living below the poverty line in the regions we are serving, such as municipalities has decreased in the long term.
• SDG 8 (Decent Work and Economic Growth): Indicators related to entrepreneurship and access to financial services has increase in the regions we are operating.

By consistently tracking these indicators and analyzing the data collected, we can quantify the real-world impact of our solution on the lives of smallholder farmers and agricultural SMBs. This data-driven approach will not only allow us to measure our progress but also identify areas for improvement and refine our strategies to maximize our transformative impact.

Agxes leverages a powerful combination of machine learning (ML), generative AI, and intuitive user interfaces to provide comprehensive risk assessment and credit facilitation services for credit institutions, favoring smallholder farmers and agricultural SMBs.

At the heart of our solution lies in a machine learning engine capable of ingesting and synthesizing vast amounts of data from diverse sources, including commodity futures, weather and climate reports, satellite imagery, insurance claim records, land and record titles, government agricultural reports, and credit bureau reports. This ML system performs advanced analytics on the integrated data, extracting real-time, actionable insights into risk factors, opportunities, and the unique circumstances of individual borrowers.

Complementing the ML engine is our implementation of generative AI technology, which enables the platform to read and identify relevant information contained within unstructured text documents, such as PDFs. This capability ensures that valuable data is not overlooked, further enhancing the comprehensiveness of our risk assessment capabilities.

To make this powerful technology accessible and user-friendly, Agxes offers an intuitive mobile and web interface that displays real-time updates on various risk factors and opportunities. This interface is designed to ensure that information is readily available and actionable for both lenders and borrowers, empowering them to make informed decisions.

Furthermore, our solution incorporates seamless API integration, allowing for easy adoption and scalability by financial institutions, ensuring that the technology can be readily utilized at scale.

In addition to the core technological components, Agxes provides educational tools and resources to improve credit literacy and risk management understanding among both lenders and borrowers. This holistic approach ensures that the advanced technology is complemented by a deeper understanding of the credit processes and risk management practices, fostering an ecosystem of informed decision-making.

By combining cutting-edge technologies like machine learning, generative AI, and user-friendly interfaces, Agxes is poised to revolutionize the lending landscape for smallholder farmers and agricultural SMBs, unlocking new opportunities for economic empowerment, sustainable practices, and overall resilience.

We are a student-led team working on this project in addition to our regular academic commitments at MIT. 

However, we have valuable support from:

1. Mentors from the MIT ecosystem who provide guidance and expertise.
2. Collaborators and allies from the Mexican financial arena who offer domain-specific knowledge and insights.
3. Contractors and other workers focused on specific tasks that help us advance our efforts.

While we do not have full-time or part-time dedicated staff at the moment, we leverage the diverse expertise and contributions of our mentors, collaborators, and contractors to drive the development of the Agxes solution forward. 

Our efforts towards developing the Agxes solution began in the summer of 2023. Agxes has been part of MIT Sandbox since the fall semester of 2023 and continues to be part of the entreprenuership ecosystem of MIT.

 Throughout this journey, we recognized the importance of trust and credibility in the financial sector, which is an asset built over time. Rather than undermining the established institutions that have met legal and commercial regulations, our vision is to enhance their influence and capacity to serve more smallholder farmers and agricultural SMBs effectively.

At Agxes, we have embraced diversity since our very foundation. Our core team consists of three powerful women founders – Benedetta, Amrita, and Victoria – who hail from different regions of the world, including Europe, Southeast Asia, and Latin America. This rich diversity not only brings together a range of cultural perspectives but also combines diverse areas of expertise and lived experiences.

Victoria, one of our founders, is an active member of the Women's Committee within her master's program and has experience working with organizations like We Connect International and Vital Voices, which are dedicated to empowering women globally. Her involvement in these initiatives underscores our team's commitment to promoting gender equity and creating opportunities for women's leadership. 

Beyond our founding team, we actively seek to collaborate with a diverse network of academics, business mentors, and contributors from various backgrounds. We firmly believe that embracing diversity is essential for fostering innovation and driving positive societal change. Our mission is to uplift communities, and we strive to embody these values of diversity, equity, and inclusion in all our efforts.

We recognize that true diversity goes beyond surface-level representation and encompasses creating an environment where everyone feels welcomed, respected, supported, and valued. To this end, we are committed to minimizing barriers to opportunity for all team members and contributors, ensuring that everyone has an equitable chance to contribute, grow, and thrive within our organization. Just as our mission and goal is with our solution, eliminate systemic barriers that prevent individuals to reach their full potential.

As we continue to grow and expand our team, we will actively prioritize initiatives and practices that further strengthen our commitment to diversity, equity, and inclusion. This includes establishing clear goals, implementing training and education programs, and fostering an organizational culture that celebrates and leverages the unique perspectives and talents of individuals from diverse backgrounds.

Ultimately, we believe that embracing diversity is not only a moral imperative but also a strategic advantage that will enable us to develop innovative and impactful solutions that truly address the needs of the diverse communities we aim to serve.

Agxes has a subscription-based business model with various tiers of service offerings tailored to different customer segments.

The key aspects of the business model are:

1. Deployment Fee (One-time): Agxes charges a one-time deployment fee for initial setup and integration of their platform with the customer's systems.
2. Annual Maintenance Fee: Customers pay an annual maintenance fee to continue accessing Agxes' services and receiving updates and support.
3. Subscription Model: Agxes offers a tiered subscription model with two main packages: a. Agxes Basic Package:

• API connectivity across data sources with basic UI visualization
• Provides access to diverse and comprehensive data sources
• Real-time data assimilation
• Real-time risk scans to monitor environmental and credit changes

b. Agxes Full Package:

• Access to integrated risk assessment solutions and interactive UI
• User-friendly interface for engagement with farmers
• Seamless onboarding
• AI-powered capabilities

Target Audience: Agxes' primary target customers are:

• Banks
• Non-banking credit institutions
• Ag-tech companies and start-ups engaged in lending activities
• Credit information companies

By offering a subscription-based model with different service tiers, Agxes can cater to the varying needs and budgets of its target customers. The basic package provides essential data integration and risk monitoring capabilities, while the full package unlocks more advanced risk assessment solutions, interactive UI, and AI-powered features.

This business model allows Agxes to generate recurring revenue streams through annual subscriptions, while the one-time deployment fee helps cover the initial setup costs. The tiered approach also provides flexibility for customers to choose the level of service that best aligns with their specific requirements and scale of operations.

Overall, the subscription-based model with a deployment fee and annual maintenance fee appears to be a suitable approach for Agxes to monetize its technology platform and deliver value to its target customers in the financial services and agricultural lending sectors.

At Agxes, we plan to pursue a multi-pronged approach to achieve financial sustainability and fund our work in the long run. Our strategy involves a combination of different revenue streams, including grants, commercial service offerings, and potentially seeking venture capital and investment opportunities.

In the initial stages, we aim to secure grants tailored for impact-first ventures like ours. These grants will provide the necessary funding to initiate our commercial activities and lay the groundwork for our operations. We are actively exploring grant opportunities that align with our mission and can support our early-stage efforts.

As we progress, a key component of our financial sustainability plan is to generate revenue through tailored service offerings to our target customers. We plan to strategically initiate commercial engagements with customers who have a more urgent need for our solution. This approach will allow us to demonstrate our capability to deliver successful outcomes and build a track record of success.

By proving our ability to create value for our customers, we can then explore opportunities to seek venture capital and investment funding. This influx of capital will enable us to accelerate our efforts, scale our operations, and expand our reach more rapidly.

While we are still in the early stages of executing this financial sustainability plan, we have already made progress in securing initial funding sources of Sandbox.

Moving forward, we will continue to actively pursue grant opportunities, establish commercial partnerships with customers, and cultivate relationships with potential investors. Our goal is to build a diverse and sustainable revenue model that combines different funding sources, ensuring long-term financial viability and enabling us to maximize our impact.

By leveraging the initial support from grants, demonstrating successful commercial engagements, and attracting investment interest, we are confident in our ability to achieve financial sustainability and scale our solution to drive positive change in the agricultural lending sector.