Agritech startup Farmkart has forayed into unstructured agriculture tools rental business enterprise by launching a tech-enabled platform rent4farm, the business said in a statement on Wednesday.
The rent4farm platform will support farmers lease significant excellent machinery and tools at aggressive rates. In the initially section, Farmkart has already started off offering the rental services in two hundred villages near Barwani in Madhya Pradesh, exactly where the startup is headquartered — by partnering with a hundred certified tools suppliers.
Currently, Farmkart’s products and solutions and services are available throughout 3,500 villages in Madhya Pradesh and the corporation is in system of growing its footprints to other States, said Atul Patidar, Founder and CEO, Farmkart.
At existing, a lot more than 1 lakh farmers are linked with Farmkart. It has distribution tie ups with domestic and international agri-input suppliers these types of as YARA and Valagro. A lot more than 1,000 products and solutions are available to farmers as a result of Farmkart’s e-commerce platform. It also has a Concept Store (Digital Store) in Barwani, which serves the farmers from the town and close by rural spots.
“We started off rent4farm in mid-June this yr and the reaction has been pretty good. Now, we are growing the facility to a broader location and hope to provide at minimum ten,000 farmers. By the conclusion of 2021, the corporation programs to just take the assistance to 20,000 farmers in 3,500 destinations with a fully-operational cellular software,” said Patidar.
Patidar started off Farmkart with an first financial investment of ₹15 crore. The corporation is in an advanced stage of increasing Series – A spherical of cash from venture cash.
He said rent4farm is a important piece of the Farmkart ecosystem and enhances its e-commerce, last-mile shipping and delivery, agronomy and economical payments infrastructure.
“This will drive value to the farming local community and develop our purchaser base as we go towards Series A,” additional Patidar.
Conveying the idea at the rear of rent4farm, he said most of the farmers do not possess farming tools and lease tools from entrepreneurs in their villages.
Right before rent4farm, farmers experienced confined solutions to look for over and above their possess villages and skipped out on significant excellent tools available elsewhere. Also, numerous tools entrepreneurs experienced below-utilised machinery because of confined implies to link with potential prospects.
“rent4farm provides structure to this unstructured marketplace whilst fostering a tradition of micro-entrepreneurship among our tools companions,” additional Patidar.