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International Research Development Africa (IRDA)
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International Research Development Africa (Irda)

Quick Info

Tel:    +254 710 212 375

Email:   irdafrica@yahoo.com

Industry:  Energy

Funding Raised:  Secured KES. 960,000 as seed funding

Funding Required: The business is seeking KES. 35 M as capital grant or investment to scale Bio Moto Cooker in exchange for 5% equity.

Use of Proceeds:

  • Improve production capacity
  • Equipment.
  • Increase market base

 

Revenue Forecast:

2018

2019

2020

15M

17M

20M

Number of Employees: 3

Business Description

International Research & Development Africa Ltd [IRDA] was incorporated in 2001 as a limited liability company. The business aims to promote efficient and sustainable clean cooking solutions by manufacturing and distributing Bio Moto Cooker, a unique and innovative human centered cooker that is powered by bio-based fuel.

Problem/Solution

In Kenya, biomass and paraffin provide the main sources of energy for rural households with wood-fuel at 95%. This lack of access to affordable, fast cooking, clean cook stoves and fuels results in continued reliance on biomass. IRDA thus aims to promote efficient and sustainable clean cooking solutions by manufacturing and distributing the Bio Moto Cooker, a unique and innovative human centered cooker that is powered by bio-based fuel.

Products/Service

IRDA produces and sells Bio Moto cooker, a simple to use denatured alcohol cooker designed to provide cheaper, healthy, fast cooking alternative. The solution is 30% cheaper than wood fuel and kerosene. It is powerful, 0-4KWinstant ignition, four level power regulator and turndown cooker. It boils 1-liter water in 7 minutes and does not emit any smoke, soot or smell.

Market

4 million urban homes spend about KES. 60 daily on energy to cook. Target customers include low-income urban households earning at least KES. 300/ day that aspire for but cannot afford more convenient fuels like LPG and electricity.This segment buys all its cooking firewood, charcoal or kerosene fuels in small, very expensive quantities daily. It also has no access to free biomass fuel.

Competitive Landscape

Many of our target market use traditional sources of energy. Thus IRDA’s main competition is charcoal and Kerosene, and LPG.To beat competition, IRDA is executing a smart, product based differentiation strategy; Design; Attractive, extremely durable, polished stainless steel cooker with power regulator and turn down.

Business Model and Distribution Channels

The production cost of the cooker is KES. 2,437.50/unit and retails at KES.3500/unit. For distribution, IRDAdeploys brand ambassadors to have one on one with potential customers in their homes, social groups, trade shows, shopping centers, and other field venues that enable customer trials, demonstrations and sales. It has also engaged local and multinational oil companies and community based organizationsaspotential distributors.

Traction to Date

IRDA has fully installed machines and equipment and is currently producing an average of 4,000 Bio Moto cookers annually. 5,000 were producedin 2017. The business is currently making income estimates of KES. 5,000,000 annually and has a customer base that is well attached to the products.

Competitive Advantage

  • Patent registered
  • Superior product
  • Human centered design
  • Relatively cheaper and clean producing neither soot nor smell
  • Fast cooking

Management Team

  • James Kariuki – CEO/Founder
  • Kennedy Kihiu – Co-founder
  • John Kariuki – Co-founder