Delhi-based EM3 AgriServices Pvt Ltd. has secured a US$3.3 million investment from Aspada Investment Company.
EM3 provides a full range of on-farm production services employing modern machinery and technologies by the company’s trained personnel, to small farmers in India on a per-use basis. Small farmers’ inability to afford modern machinery and technologies has been a major cost prohibitive factor to improving yields in the country. EM3 is targeting the elimination of the necessity of ownership by providing services and production practices that will enhance yields through a pay-per-use service model.
A complete portfolio of soil to farm gate services will be provided under EM3’s Samadhan brand through its network of farm service centers. And Aspada’s additional capital will allow EM3 to build a “pan-India network” of service centers.
“Over the next 18-24 months, we intend serve tens of thousands of farmers, thereby enhancing yields of numerous crops across multiple geographies. Simultaneously, 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,” says Adwitiya Mal, Executive Director of EM3 AgriServices.
Until this point, the bulk of major investment in Indian agriculture has been through parallel industries such as cold storage and warehousing, and this investment by EM3 marks one of the only significant investments in ‘core’ Indian agricultural production.
Backed by the Soros Economic Development Fund, the venture capital investor, Aspada Investment Company believes that EM3 has the potential to become India’s first agricultural services platform for smallholders at scale, and which will improve production practices and productivity across the country.
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