Market Research Report: Certified Quality Foods, Inc.

Background

Company Overview

Certified Quality Foods, Inc. (CQ Foods) is a pioneering company specializing in the measurement and quantification of food quality through biometric technology. Founded in 2016, the company is headquartered in Juneau, Alaska, with additional offices in Dallas, Texas; Corpus Christi, Texas; Detroit, Michigan; and Boston, Massachusetts.

Mission and Vision

CQ Foods is dedicated to enhancing the food supply chain by providing objective, real-time data on food quality, freshness, and safety. Their mission is to reduce food waste, combat economic fraud, and reward quality providers by offering innovative solutions that improve transparency and efficiency in the food industry.

Primary Area of Focus

The company focuses on developing and deploying bioelectrical impedance analysis (BIA) systems for various animals and food products. Their flagship product, the Certified Quality Reader (CQR), is a handheld device that measures the quality and freshness of perishable foods, including seafood, poultry, and produce.

Industry Significance

CQ Foods addresses critical challenges in the food industry, such as high rates of food waste and the need for accurate, non-invasive quality assessments. By providing real-time, objective data, the company empowers stakeholders across the food supply chain to make informed decisions, thereby enhancing product quality and reducing losses.

Key Strategic Focus

Core Objectives

• Innovation in Food Quality Measurement: Develop and refine technologies that provide accurate, real-time assessments of food quality and freshness.

• Market Expansion: Increase the adoption of BIA technology across various sectors of the food industry, including producers, processors, distributors, foodservice, and retail.

• Sustainability and Waste Reduction: Utilize technology to minimize food waste and promote sustainable practices within the food supply chain.

Specific Areas of Specialization

• Seafood Analytics: Monitor quality and freshness of seafood products to reduce waste and improve consumer trust.

• Poultry Analytics: Assess and mitigate issues like woody breast in poultry through real-time quality monitoring.

• Aquaculture Analytics: Provide animal health monitoring solutions to enhance the sustainability and efficiency of aquaculture operations.

Key Technologies Utilized

• Bioelectrical Impedance Analysis (BIA): A non-invasive method that measures the impedance of electrical currents passing through food products to determine their quality and freshness.

• Mobile Applications: Companion apps for iOS and Android that interface with the CQR device, allowing users to access real-time data and analytics.

• Cloud-Based Dashboards: Platforms that aggregate data from across the food industry, providing insights and analytics to stakeholders.

Primary Markets Targeted

• Seafood Industry: Including producers, processors, distributors, and retailers.

• Poultry Industry: Focusing on producers and processors dealing with quality issues like woody breast.

• Aquaculture Sector: Encompassing fish farms and aquaculture facilities seeking efficient health monitoring solutions.

Financials and Funding

Funding History

• Total Funds Raised: $160,000.

• Recent Funding Rounds: The company has engaged in convertible note funding, with the most recent round being Convertible Note - II.

• Notable Investors: Specific investor details are not publicly disclosed.

• Utilization of Capital: Funds are primarily allocated towards research and development of BIA technologies, expansion of market reach, and operational scaling to meet growing demand.

Pipeline Development

Key Pipeline Candidates

• Certified Quality Reader (CQR) 3.0: The latest iteration of the handheld device, featuring a redesigned form factor, upgraded mobile app, and enhanced analytical dashboard tools.

Stages of Development

• Product Development: Ongoing refinement of the CQR device and associated software to improve accuracy, user experience, and data analytics capabilities.

• Market Testing: Beta programs and pilot testing with retailers, distributors, and consumers to validate product performance and gather feedback.

Target Conditions

• Seafood Freshness: Ensuring optimal quality and safety of seafood products throughout the supply chain.

• Poultry Quality: Addressing issues like woody breast to enhance product quality and consumer satisfaction.

• Aquaculture Health: Monitoring fish health to improve sustainability and efficiency in aquaculture operations.

Anticipated Milestones

• Product Launches: Introduction of the CQR 3.0 device to the market, with expected availability in the coming months.

• Partnerships: Establishing collaborations with key industry players to expand product adoption and reach.

Technological Platform and Innovation

Proprietary Technologies

• Certified Quality Reader (CQR): A handheld device that uses bioelectrical impedance analysis to measure the quality and freshness of perishable foods.

• Mobile Applications: Companion apps for iOS and Android that interface with the CQR device, providing real-time data and analytics.

• Cloud-Based Dashboards: Platforms that aggregate data from across the food industry, offering insights and analytics to stakeholders.

Significant Scientific Methods

• Bioelectrical Impedance Analysis (BIA): A non-invasive technique that measures the impedance of electrical currents passing through food products to determine their quality and freshness.

• Data Analytics: Utilizing cloud-based platforms to analyze aggregated data, providing actionable insights for stakeholders.

Leadership Team

Key Executives

• Michael Liedtke: Co-founder and Chief Operating Officer. A serial entrepreneur with experience in multiple startups, holding an MBA from the Robins School of Business and a BSBA in Computer Information Systems.

• Dr. Marlin Keith Cox: Co-founder and Chief Scientific Officer. A researcher and former professor at the University of Alaska, with numerous peer-reviewed publications in bioimpedance. Holds a PhD from West Virginia University.

• Jim Lincoln: Co-founder and Investor. A successful serial entrepreneur with ownership in food manufacturing and staffing businesses in Texas. Holds a BSBA and MBA from Southern Methodist University.

• Chuck Anderson: Vice President of Sales & Marketing. A 30+ year veteran in the food industry, with experience across retail, supermarkets, food processing, and all supply chain levels.

• Courtney Capps: Administration and Accounting. With 21 years of experience in startup environments, including 12 years as Director of Operations and 9 years in Business Development.

• Antonia Gonzalez: Marketing Analyst and Accounting. With 18 years in office administration, 12 years in accounting and bookkeeping, and tax accounting experience. Certified in social marketing, holding a BA and MBA.

• Solomon Lopez: Creative Director and IT Support Specialist. With 15 years as an audio sound engineer, 10 years in videography and editing, 8 years in project management/technical support, and 7 years in advanced business leadership and consulting.

Competitor Profile

Market Insights and Dynamics

The food quality measurement and monitoring industry is experiencing growth due to increasing concerns over food safety, waste reduction, and the demand for transparency in the food supply chain. Technological advancements, such as BIA, are driving innovation and offering new solutions to these challenges.

Competitor Analysis

• Sysco Corporation: The world's largest broadline food distributor, serving approximately 730,000 customer locations.

• US Foods Holding Corp.: The second-largest food service distributor in the U.S., supplying 250,000 locations, including independent and chain restaurants, healthcare, hospitality, and educational institutions.

• Smithfield Foods, Inc.: The largest pig and pork producer globally, with operations in multiple countries and a significant workforce.

Strategic Collaborations and Partnerships

CQ Foods has engaged in beta programs and pilot testing with retailers, distributors, and consumers to validate product performance and foster industry partnerships.