farMart

For farmers from farmers

farMart is an on-demand agri-machinery renting platform -‘Uber for Tractors’.

Use Case

farMart -‘Uber for Tractors’- is an on-demand technology platform where small farmers can rent agriculture machinery from local enterpreneurs and larger farmers on pay-per-use basis using their mobile phones. farMart has also partnered with non-banking financial institutions to offer flexible loans to farmers to service the financing requirements for hiring and purchasing of new high tech agricultural machineries. in the past one year, we have serviced over 2500 small farmer households and are working with over 300 machinery owners in 400+ villages in the Indian state of Uttar Pradesh (U.P.).

Potential

There are currently over half a billion farmers in the world, and most of them have small farmers (owning less than 2 hectare of land) who lack access to agricultural machinery and modern technology.This results in farmers not making use of agri-machines, using inefficient cultivation methods, with associated productivity consequences such as lower yields or crop loss. farMart rely on technologies such as internet of things, remote sensing, geo-referencing and algorithmic distance optimisation to offer mechanization services to small farmers. Given we do not own inventory, our model is highly scalable and commercially viable model.

Business Case

Our sources of revenue are commission from borrowing and lending machinery from farmers and lead generation for allied businesses like agricultural equipment manufacturers.

Objectives:

  1. Access to mechanization services to small and marginal farmers
  2. Crop protection information to farmers on their mobile phones through SMS and mobile APPs
  3. Access to financing options to farmers through partner organizations

Team farMart

Chandigarh, India

Our Team

Our Mission

farMart's core mission is to to make farming financially rewarding and environmentally sustainable business for small and marginal farmers by offering advanced mobile-based technology services.

Our Background

farMart team comes from an agricultural background and possess a deep passion to make sector organized. Alekh was a digital payments consultant and has cross country experience having worked extensively on a variety of projects with international donors. Lokesh brings over 17 years of managerial experience in the micro-finance and payments sector. Mehtab was a risk/ product analyst at Goldman Sachs. He then worked as a public policy consultant at NIPFP (Govt. of India premier think tank)

Our Team

Our Mission

farMart's core mission is to to make farming financially rewarding and environmentally sustainable business for small and marginal farmers by offering advanced mobile-based technology services.Read More

Our Background

farMart team comes from an agricultural background and possess a deep passion to make sector organized. Alekh was a digital payments consultant and has cross country experience having ...Read More

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The information contained here represents student project ideas developed as the result of brainstorming activities during Round 1 of the TFF Challenge. It does not represent any final business plans or commercial products.