Biography of Abdul Rasool: Founder and CEO of Agri Green Seeds- Entrepreneur
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Biography of Abdul Rasool:
Introduction to Agri Green Seeds
Abdul Rasool, the Founder and CEO of Agri Green Seeds, and
Iqra Batool, the company's Director, appeared on Shark Tank Pakistan to present
their innovative agricultural startup. The company, based in Lasbela,
Balochistan, is focused on providing hybrid, chemical-free, and organic
vegetable seeds. Their mission is to address Pakistan’s food crisis by
improving the quality of seeds available to farmers and enhancing crop
production across the country.
The Problem: Poor Seed Quality in Pakistan
Through over three years of research, Agri Green Seeds
identified a major issue within Pakistan’s farming industry: 80-85% of farmers
struggle to find high-quality, pure seeds. This problem hinders crop production
and contributes to the country’s ongoing food security challenges. Abdul and
Iqra recognized the need for a solution that would provide farmers with
reliable, high-production seeds that could withstand Pakistan’s challenging
climate.
Biography of Abdul Rasool: Founder and CEO of Agri Green Seeds- Entrepreneur /age/net worth/startup/shark tank/organic vegetable seeds/Agri Green Seeds
Innovative Solutions for Agriculture
Agri Green Seeds developed innovative heat-resistant seeds
that are specifically designed to survive in Pakistan's extreme weather
conditions. Their product line includes both commercial seeds for large-scale
farming and kitchen gardening seeds for personal use. The kitchen gardening
seeds are recyclable for up to three years, providing consumers with an
environmentally friendly and sustainable option. The commercial seeds, however,
are intended for a single growing cycle.
Business Model and Early Success
The company’s business model targets two different markets:
commercial farming and home gardening. Agri Green Seeds sells packets of seeds
for PKR 800 each, with a profit margin of PKR 300 per packet. In just six
months, they sold 2,000 units, generating a revenue of PKR 1.5 million. Looking
ahead, they are targeting an annual revenue of PKR 150–200 million by 2025,
particularly after expanding into Sindh and Punjab with their commercial
products.
The Pitch: Seeking Investment
In their pitch on Shark Tank Pakistan, Abdul and Iqra
requested an investment of PKR 5 million in exchange for 5% equity in their
business. The funds would be allocated towards developing the product,
enhancing logistics, covering labor costs, and increasing marketing efforts.
They shared their goal of growing the company and expanding their reach to
other regions of Pakistan, as well as improving the agricultural sector's
overall productivity.
Negotiations Begin
Junaid Iqbal, one of the investors, initially offered PKR 5
million for a 20% stake in the company, contingent upon bringing in a
commercial co-founder within two months. However, the other sharks quickly
joined forces to revise the offer. They proposed PKR 5 million for 25% equity,
indicating a keen interest in the business. Abdul and Iqra, recognizing the
opportunity, began negotiating for a split in equity between their two product
lines.
Counteroffer and Deal Finalization
After careful consideration, Abdul and Iqra countered with
an offer to give 25% equity for the kitchen gardening segment and 8% equity for
the commercial gardening segment. The sharks agreed to this split, and the deal
was sealed. This agreement marked a significant milestone for Agri Green Seeds,
as it would provide them with the necessary capital to grow and scale their
business.
The Impact of Their Business
Agri Green Seeds’ products promise to improve crop yields,
which is a crucial factor in addressing food shortages and the overall
agricultural challenges in Pakistan. The company’s innovative approach to seed
development, including its focus on heat resistance and sustainable gardening,
has the potential to significantly boost the productivity of farmers across the
nation, particularly in areas struggling with food insecurity.
Future Plans and Ambitious Growth
With the investment secured, Agri Green Seeds plans to
continue expanding its product offerings and scale its operations. The founders
aim to increase their sales dramatically, moving from their current forecast of
PKR 600,000 in sales for 2024 to a much higher evaluation of PKR 10 crore.
Their long-term vision includes not only local expansion but also tapping into
global markets, offering their products to customers around the world.
Seizing the Market Opportunity
Agri Green Seeds is tapping into a huge market opportunity
in both the commercial and kitchen gardening sectors. With growing interest in
sustainable farming and organic gardening, the demand for quality seeds
continues to rise. The company is positioning itself to capitalize on this
trend, offering products that not only cater to local markets but also have the
potential to be exported internationally. As they continue to grow, Agri Green
Seeds is poised to play a key role in addressing Pakistan’s food security
challenges while promoting sustainable agricultural practices.
Timeline for story
2021 - Abdul Rasool and Iqra Batool founded Agri Green Seeds
in Lasbela, Balochistan.
2021 - Agri Green Seeds identified the problem of poor seed
quality affecting 80-85% of Pakistani farmers.
2021 - The company developed heat-resistant, organic
vegetable seeds for both commercial and kitchen gardening.
2023 - Agri Green Seeds sold 2,000 seed packets, generating
PKR 1.5 million in revenue.
2023 - Agri Green Seeds pitched on Shark Tank Pakistan,
requesting PKR 5 million for 5% equity.
2023 - After negotiations, the sharks agreed to invest PKR 5
million for 25% equity in exchange for a split between product lines.
2024 - Agri Green Seeds forecasts sales of PKR 600,000, with
plans to reach PKR 10 crore by 2025.
2025 - The company aims to expand locally and
internationally, addressing food security challenges in Pakistan.
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