As a platform connecting bakeries with their suppliers, BakeryTech acts as a purchasing department with intelligent capabilities, focusing on optimizing the customer's mix and ensuring competitive pricing. And our decision to invest in it was due to the market opportunity and the team.

The team at BakeryTech brings together a wealth of experience and expertise. Bruno, a mechanical engineer from ITA and a HSB Graduate, has worked in prestigious companies such as Bain and served as the CEO of Grupo Cataratas. Edgar, also an engineer from ITA, has a background in companies like LATAM Airlines and Petrobras, and has previously founded two software houses. Their diverse skill set and industry knowledge provide a strong foundation for BakeryTech's success.

The initial problem that BakeryTech addresses is the lack of digital transformation in Brazilian bakeries. Many of these establishments operate in analog terms, with limited digital presence and outdated processes. Moreover, bakeries have multiple business streams within their operations, such as cafeterias, restaurants, and mini-markets, resulting in complex inventory management and pricing challenges. BakeryTech recognizes this opportunity for technology disruption to increase efficiency and profitability in the bakery industry.

The market opportunity for BakeryTech is substantial. In Brazil alone, there are approximately 70,000 bakeries, with 94% of them being small establishments and family businesses. BakeryTech's ideal customer profile includes bakeries with revenue ranging from 80k BRL to 350k BRL, which encompasses 80% of the bakery market in Brazil. With an average revenue of R$130k per month per bakery and the majority operating within the SIMPLES tax regime, BakeryTech estimates that their platform can serve a significant portion of the market.

BakeryTech's solution focuses on creating new relationships in the supply market that improve how independent bakeries are treated by industry players and large distributors. Their platform facilitates a healthy, technological, and profitable relationship between bakers and distributors, benefiting both parties involved. By leveraging technology and data-driven insights, BakeryTech aims to enhance the operations of bakeries and create a more efficient supply chain.

The B2B marketplace opportunity is vast and promising. The size and fragmentation of the bakery industry in Brazil further enhance the potential for a business model like BakeryTech's. By leveraging the power of a marketplace platform, BakeryTech can revolutionize how bakeries source their supplies, optimize their operations, and improve their overall profitability.

In conclusion, our investment in BakeryTech is driven by their approach to addressing the challenges faced by the bakery industry in Brazil. With their B2B marketplace solution, experienced team, and significant market opportunity, BakeryTech has the potential to become a force in the bakery sector. We are excited to have BakeryTech with us.