Hi  @Oumayma Nsaibi

,  can you share the error messages you've encountered on this, and a link to the deal memo? That will help us resolve the issue.

Hey  @Woody Butler

, thank you so much for your support!
for the link, I could not find how to share it,
here is the message:
AI enrichment failed for H Eco Ferme: DealMemo::DueDiligenceService::DueDiligenceError: AI response is not valid JSON: Empty input (after ) at line 1, column 1 [parse.c:1060] in '```json [ { "question": "What problem is the company solving?", "answer": "H Eco Ferme addresses the decline of the livestock sector caused by pasture degradation and rising animal feed costs. The strong dependence on imported feed exacerbates this problem, making it essential to valorize local resources, particularly oasis waste, as a sustainable solution to reduce costs and optimize productivity. Additionally, the company tackles the environmental issue of neglected agricultural and oasis waste that can lead to oasis fires.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [2]}, {"type": "url", "url": "https://hecoferme.com/?page_id=16"} ] }, { "question": "What is the product/service? How does it solve the pain point/need?", "answer": "H Eco Ferme specializes in valorizing natural and agricultural waste into multiple products: (1) affordable livestock feed supplements that are natural (without chemical additives) and provide complete nutrition at lower cost; (2) inputs for ecological glue and wood pellets used in compacted pallets and MDF production; (3) compost and poultry litter. The company offers on-site waste valorization services, traveling directly to farmers' parcels to collect and process their waste. This circular economy model reduces production costs for ranchers, provides alternatives amid water scarcity and high traditional fodder prices, and prevents environmental issues like oasis fires.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [3, 4]}, {"type": "url", "url": "https://hecoferme.com/?page_id=16"} ] }, { "question": "Describe the market (and size) that the company will penetrate or create.", "answer": "H Eco Ferme targets four main market segments: (1) livestock breeders (éleveurs), (2) merchants/traders (commerçants), (3) agricultural development groups (groupements de développement agricole), and (4) industrial feed and poultry feed manufacturers. The company currently serves approximately 200 livestock breeders, 20 merchants, and 4 agricultural development groups. The roadmap indicates plans to expand nationally across Tunisia by 2027 and internationally to Africa and the Mediterranean region by 2028.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [7, 8, 10]} ] }, { "question": "What are the key terms of the investment (instrument, type of round, round size, valuation)?", "answer": "N/A", "references": [] }, { "question": "What is the company's target geography/demographic?", "answer": "H Eco Ferme is based in Jara Gabes, Tunisia, and currently operates in the Africa region. The company's 2025-2028 roadmap shows plans to: support local farmers and breeders in 2025-2026, extend presence nationally across Tunisia by 2027 (creating a network of distributors and partner sales points, signing partnerships with agricultural organizations), and launch internationally in Africa and the Mediterranean region by 2028 (preparing exports, participating in international trade shows, opening an export office).", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [10]}, {"type": "url", "url": "https://hecoferme.com/"} ] }, { "question": "Who are their main competitors? What is the company's competitive advantage/unique value proposition/key differentiation that sets them apart?", "answer": "Main competitors identified include: Sociétés Mutuelles de Services Agricoles, STE DE NUTRITION DU SUD, and traditional animal feed companies. H Eco Ferme's competitive advantages are: (1) product diversification - offering not only feed supplements but also industrial inputs (ecological glue, wood pellets for MDF/pallets) and agricultural products (compost, poultry litter); (2) competitive pricing - providing lower-cost alternatives to imported feed; (3) market positioning - targeting underserved local markets with on-site mobile valorization services that come directly to farmers' parcels; (4) circular economy model - converting waste into value-added products while addressing environmental concerns.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [3, 4, 9]} ] }, { "question": "What barriers to entry does the business face?", "answer": "N/A", "references": [] }, { "question": "What is the moat the business is creating - or will create?", "answer": "H Eco Ferme is building a moat through: (1) local resource control and circular economy expertise - specialized knowledge in valorizing oasis and agricultural waste specific to the region; (2) on-site service model - mobile valorization services that go directly to farmers' parcels, creating convenience and relationship barriers; (3) product diversification across multiple value chains - feed supplements, industrial inputs, and agricultural products, making the business less dependent on a single revenue stream; (4) environmental and social impact positioning - certified as a startup by the Tunisian Ministry of Communications Technologies (startup mark awarded May 4, 2023), creating regulatory and reputational advantages.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [3, 4, 9, 15]} ] }, { "question": "What are the macroeconomic risk factors for the company?", "answer": "Key macroeconomic risks include: (1) dependence on agricultural sector health - the company's success is tied to the livestock and farming sectors, which are vulnerable to climate conditions, water scarcity, and pasture degradation; (2) import dependency of the broader market - while H Eco Ferme offers local alternatives, the overall market's reliance on imported feed creates price volatility; (3) commodity price fluctuations - changes in prices of traditional animal feed and industrial raw materials could affect competitive positioning; (4) regional economic conditions in Tunisia and planned expansion markets in Africa and Mediterranean.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [2]} ] }, { "question": "What standards or regulations have a high impact on this business (either positive or negative)? How will the business mitigate or capitalize on these?", "answer": "H Eco Ferme has received official recognition through the Tunisian startup label (\"علامة المؤسسة الناشئة\") awarded by the Ministry of Communications Technologies on May 4, 2023. This certification provides regulatory advantages and credibility. The company operates in sectors subject to: (1) animal feed safety and quality standards; (2) environmental regulations regarding waste management and valorization; (3) agricultural product certifications. The company capitalizes on these by positioning itself as providing natural feed supplements without chemical additives and promoting its environmental impact (672 tonnes of CO₂ avoided through valorizing 600 tonnes of waste).", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [4, 11, 15]} ] }, { "question": "Why is this the right team? What relevant experience and expertise do the founders bring to the table? Do they understand the customer?", "answer": "The founding team consists of Hedi Amorri (co-founder) and Fatma Abboud (co-founder). Fatma Abboud serves as Administrative Manager with expertise in corporate taxation (Fiscalité d'entreprises). Hedi Amorri brings experience in international maritime conflicts. The broader team includes 1 director, 1 engineer, 1 administrator, 7 employees, and 2 commercial developers. The team demonstrates understanding of the customer through their on-site service model and focus on creating green jobs, with emphasis on social impact including waste collection participation.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [1, 14, 16]}, {"type": "url", "url": "https://hecoferme.com/"} ] }, { "question": "Evaluate the key aspects that will bring the company to significant market presence and growth to venture scale. This includes geographic/market segments, brand strategy, GTM strategy, sales strategy, and channels/partnerships.", "answer": "Geographic expansion: Phased approach from local (2025-2026) to national Tunisia (2027) to international Africa/Mediterranean (2028). Market segments: Four distinct segments - livestock breeders, merchants, agricultural development groups, and industrial feed manufacturers. GTM strategy: (1) 2025: Support local farmers and breeders with affordable local feed and mobile valorization services, offering incentive packages and proximity support; (2) 2026: Target industrial feed and poultry feed factories, produce at scale, create industrial partnerships; (3) 2027: Create distributor network and partner sales points, sign partnerships with agricultural organizations, launch national awareness campaign on waste valorization; (4) 2028: Prepare exports, participate in international trade shows, open export office and sign contracts. Brand strategy: Positioning as \"made in TUNISIA\" eco-friendly valorization company (\"SOCIÉTÉ DE VALORISATION\") with emphasis on guaranteed quality and lower cost. Sales channels: Direct on-site services, commercial developers, and planned distributor partnerships.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [7, 10]} ] }, { "question": "What are the current and target unit economics of the business? What is the business model?", "answer": "Business model: B2B circular economy model with multiple revenue streams: (1) Sale of livestock feed supplements to breeders and merchants; (2) On-site waste valorization services for farmers (mobile service traveling to parcels); (3) Sale of industrial inputs (ecological glue and wood pellets) to manufacturers; (4) Sale of agricultural products (compost and poultry litter). The company has valorized 600 tonnes of waste to date. Specific unit economics, pricing, and margins are not disclosed in available materials.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [3, 4, 7, 11]} ] }, { "question": "What are the key business and product milestones over the next 12 - 24 months? Has the business articulated a roadmap with KPIs and capital requirements?", "answer": "The company has articulated a clear 2025-2028 roadmap. For 2025 (next 12 months): Support local farmers and breeders by providing affordable local feed, offering mobile waste valorization services, and providing incentive offers with proximity support. For 2026 (12-24 months): Target industrial feed and poultry feed factories, produce at large scale, and create industrial partnerships. Current traction shows 200 livestock breeders, 20 merchants, and 4 agricultural development groups served, with 600 tonnes of waste valorized and 672 tonnes of CO₂ avoided. Specific KPIs and capital requirements are not detailed in available materials.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [8, 10, 11]} ] }, { "question": "What is the company's potential exit plan?", "answer": "N/A", "references": [] }, { "question": "Does the company support the Mensarius Oath? How do the company's products/services positively impact life on our planet?", "answer": "H Eco Ferme demonstrates strong environmental and social impact alignment. Environmental impact: The company has valorized 600 tonnes of agricultural and oasis waste, avoiding 672 tonnes of CO₂ emissions. The circular economy model prevents oasis fires and addresses waste neglect. Products are natural without chemical additives. Social impact: The company creates green jobs (\"Création des emplois verts\") and promotes participation in waste collection. The business provides affordable alternatives to expensive imported feed, supporting local farmers and reducing production costs. The company is certified by the Tunisian government as a startup focused on valorization and transformation.", "references": [ {"type": "doc", "file": "Présentation de HECOFERME.pdf", "pages": [4, 11, 13, 15]}, {"type": "url", "url": "https://hecoferme.com/?page_id=16"} ] }, { "question": "What is the use of funds?", "answer": "N/A", "references": [] }, { "question": "What is their current cash on hand, if available? How much runway does the company have?", "answer": "N/A", "references": [] }, { "question": "Who are the other major investors in this round? Who are the noteworthy previous investors?", "answer": "N/A", "references": [] }, { "question": "When do you need to sign the investment documents?", "answer": "N/A", "references": [] } ] ```. Response: ```json [ { "question": "What problem is the company solving?", "answer": "H Eco Ferme addresses the decline of the livestock sector caused by pasture degradation and rising animal feed costs. The strong dependence on imported feed exacerbates this problem, making it essential to valorize local resources, particularly oasis waste, as a sustainable solution to reduce costs and optimize productivity. Additionally, the company tackles the environmental issue of neglected agricultural a...