TE-FOOD is a successful food traceability solution, used by 6,000+ companies, managing more than 400,000 transactions each day, reaching 30 million people.
We are dedicated to improve food safety, fight off corruption, support fair trade, and build trust between the food supply chain companies, consumers, and authorities in the emerging markets.
We believe that building a sustainable business on food safety is much more efficient to make difference than any type of aid.
TE-FOOD has grown to over 6000+ business customers, tracking 10,000 pigs, 200,000 chickens, and 2.5 million eggs daily. In 2018, it will expand to track cattle, fish & seafood, and fruits & vegetables.
Foodborne diseases around the world are accountable for the hospitalization of 700 million people and 400,000 deaths. The global food traceability solution market will reach $15.1 Billion by 2021. Compound Annual Growth Rate is highest in Asia-Pacific (CAGR: 16.7%) vs. rest of the world (5.5-8.7%). Traceability effects are medical (fewer foodborne illnesses and deaths), social (consumer demand, need for trust), and economical (less product recall costs, supporting export, transparency, VAT revenue).
TE-FOOD provides physical identification tools, mobile and web based software solutions in a PPP model (low upfront fee, and long term contract). TE-FOOD charges for the identification tools, and the transactions in the system. Our customers are governments, private companies, and professional organizations. TE-FOOD is a traceability solution optimized for emerging markets. It’s the cheapest solution on the market, with no need for special equipment. Business model fits local markets, making it a profitable business.
Our detailed, practical implementation guide ensures scalability in other countries. TE-FOOD is a joint project of a Hungarian and a Vietnamese company, currently employing 25 people. For international expansion, all rights and activities are incorporated into a new single company: TEFOOD International GmbH in Switzerland. Leaders of the new company have over 20 years of business and IT experience.
To raise funds for international expansion and development of blockchain transaction ledger. Blockchain provides transparent trust based solution for international operation. Tokenization with smart contracts eliminates volatility as a unified financial transaction management solution.
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