Enthused with initial investment of Rs 20 crore from Aspada Investment Company, Delhi-based EM3 AgriServices Pvt Ltd said that the company now plans Pan-India network to enhance farmers wealth. EM3 is corporate India’s maiden venture into the field of farm mechanization and technology services, with a goal of enhancing the wealth of small and marginal farmers.
EM3 provides a full range of on-farm services using modern agricultural machines and technologies, delivered by the company’s own trained personnel on a ‘pay-for-use’ basis. Rohtash Mal, Chairman and Managing Director(CMD), EM3 AgriServices, said that ‘Pay-For-Use’ model for agricultural machinery will pave way for next Green Revolution
Over the next 18-24 months, the company intends to serve tens of thousands of farmers, thereby enhancing yields of numerous crops across multiple geographies. “We will continue investing in team building, bolstering our technology platform, enhancing soil and chemistry research, and augmenting our services and product portfolio – all with the intent of maximizing farm productivity and driving down farm operating costs," said Adwitiya Mal, Executive Director of EM3 AgriServices.
Small farmers are universally unable to afford machines and equipment that can increase yields and productivity. EM3’s aims to eliminate the need for ownership by providing access to technologies that enhance yields per acre and that have heretofore been affordable to only the largest farmers and landowners.
"Most prominent among yield inhibiting factors is the small farmer’s inability to afford modern machines and technology. Pay-for-use service models are, by far, the only solution to the enduring challenge of raising farm productivity without burdening the farmer with significant capital expenditure,” Rohtash Mal said.
“So far, only adjacent opportunities in agriculture such as cold chains and warehouses have drawn serious interest from investors. EM3 is one of the few investments in ‘core’ Indian agriculture aimed at positively enhancing a small hold farmer’s Profit and Loss (P&L) account," he added.
"In Aspada, we found the right DNA to work with on this path-breaking opportunity – a bright and energetic team that has an exceptionally mature approach to building sustainable, disruptive businesses that can become large and create real economic and societal value," the Chairman said.
"Services are delivered under our brand ‘Samadhan’ through EM3’s farm service centres (Samadhan Kendras). Each centre delivers a complete suite of basic and precision agri operations from soil to the farm gate. We have been operating in Madhya Pradesh for over a year, and with Aspada’s investment will create a pan-India network of Kendras,” he added.
"We believe that EM3 can become India’s first organized small-hold agricultural services platform at scale and will materially improve farm processes and productivity among small farmers in India," said Kartik Srivatsa, Managing Partne, Aspada Investment.