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HomePosts Tagged "Mahindra group"
Agribusiness, Award, Collaborations, Company News, R&D

The event honoured India’s richest farmers and highlighted Mahindra’s dedication to cutting-edge technology to change the farming landscape

Mahindra Tractors, India’s leading tractor brand celebrates the remarkable achievements of India’s successful farmers through a ground-breaking initiative called ‘Millionaire Farmer of India Award’.

In its second edition, the awards held at the Indian Agricultural Research Institute (IARI) in New Delhi from December 01 – 03, 2024, witnessed the esteemed presence of Shri. Nitin Gadkari – Honourable Union Minister of Road, Transport, and Highways, Government of India, Shri. Bhagirath Chaudhary – Honourable Union Minister of State for Agriculture & Farmers Welfare, Government of India, Prof. Ramesh Chand – Member of National Institution for Transforming India, NITI Aayog, Government of India, and Chairman of the Institute of Economic Growth, New Delhi, Shri. Parshottam Rupala – Former Union Minister, Fisheries, Animal Husbandry & Dairying, Shri. SP Singh Baghel – Minister of State, Ministry of Fisheries, Animal Husbandry & Dairying, along with other dignitaries.

The 3-day event honoured over 1200 farmers, across 300 categories, at the district, state, and national levels, such as horticulturists, spice farmers, poultry, dairy etc. and includes prominent personalities from India’s agriculture industry. At the event Mahindra also showcased a wide range of cutting-edge tractors and farm mechanization solutions.

During the 3-day event, Mahindra Tractors showcased its range of tractors across various categories and farm machinery for various applications. Among these was the Mahindra OJA, Mahindra’s future-ready range of 4WD light-weight tractors.

Like the inaugural edition of Millionaire Farmer of India, Mahindra Tractors will interact with farmers at the district level through roadshows and activities at KVKs (Krishi Vigyan Kendra’s) through the year.

With a primary objective to acknowledge, inspire and elevate the profession of farming in India, the ‘Millionaire Farmer of India Awards’ recognises farmers who through unwavering efforts have not only doubled their farm incomes, but have also achieved millionaire status, through best practices, integrating technology, while attaining record levels of productivity and profitability from their farmlands over the years.

Mahindra is India’s No.1 tractor brand for nearly four decades and is the world’s largest tractor manufacturer by volume. Mahindra rolled-out its first tractor in 1963, through a joint venture with International Harvester, Inc., USA, and in March 2019 became the first Indian tractor brand to sell three million tractors including global sales. Powerful and fuel efficient for longer duty cycles, Mahindra Tractors are Built ‘Tough’ and are known for their exceptional build quality and performance on rugged and unforgiving terrains, for India and over 50 global markets. Mahindra Tractors offer the widest tractor portfolio for India and are developed based on Mahindra’s world-class R&D, product development, quality manufacturing, in India, with world-class testing standards, based on world-class engines, powertrains, and aggregate technologies. This is backed by the country’s most comprehensive tractor sales, service, and spares networks, for lowest total cost of ownership, along with the highest tractor resale value.

Spanning 60 years, Mahindra has broadened its offerings to encompass a diverse range of more than 390 tractor models. During this period, Mahindra Tractors has also established a robust network of over 1200 dealer partners across India, with a customer first orientation that has enabled the brand to provide unparalleled levels of sales, service and spares support to an expanding base of 40 lakh Mahindra Tractors customers.

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

The event honoured India's richest farmers and

Agribusiness, Company News, Farm Mechanisation, India, Interaction

Event was organised at the backdrop of a theme “The Future of Farming: Sowing the Seeds of Change”.

The fifth iteration of the Agritech Summit and Swaraj Awards 24 took place on 9 September 2024 in New Delhi, and Swaraj Tractors, which is a subsidiary of the Mahindra Group. The event organised in conjunction with the Indian Council of Agricultural Research (ICAR), was held in order to honour the amazing achievements that farmers and agricultural institutions have made over the course of the previous year.

 Event was organised at the backdrop of a theme “The Future of Farming: Sowing the Seeds of Change”. The summit was honoured by the presence of Dr Devesh Chaturvedi, Secretary, Agriculture and Farmers Welfare, Government of India. He lauded Swaraj Tractors for its unwavering commitment to providing assistance to small and marginal farmers. Furthermore, he argued that agriculture is the foundation of the economy, which must be self-sufficient in order to be successful. He extended his remarks on the digital agricultural mission while simultaneously extending his congratulations to the winners of the Swaraj Awards 2024. Dr Chaturvedi was present at the occasion on behalf of Shivraj Singh Chouhan, Union Minister of Agriculture, who was unable to take part in the event in person.

 Focusing on importance of agriculture and mechanisation

Over the course of his keynote talk, Harish Chavan, the Chief Executive Officer of the Swaraj Division, emphasised the significance of agriculture and mechanisation in the process of bringing the goal of “Viksit Bharat” to fruition. His statement was as follows: “As India strives to become a developed nation, agriculture must be at the forefront of the movement.” In light of the fact that our agricultural GDP is among the highest in the world, we cannot simply strive to achieve food sufficiency; rather, we must establish ourselves as the food basket of the world. Agricultural production in India has the potential to become a globally competitive sector if the country adopts innovative practices, environmentally responsible methods, and contemporary infrastructure. It is possible to overcome the challenges of climate change and to attract young people to farming through the use of mechanisation and technology, which will pave the path for a prosperous and dynamic future agricultural sector.

During the event, there were panel discussions that revolved around the future of agriculture, and significant dignitaries and government officials participated in those debates. The conversations included a wide range of subjects, including agricultural governance, technological change, precision farming in ornamental horticulture and allied sectors, agricultural innovation, and financial inclusion for farmers.

Event was organised at the backdrop of

Company News, India, Machinery - Pre-harvesting, Machinery – Post-harvesting

Domestic sales in April 2024 were at 35805 units, as against 35398 units during April 2024

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, announced its tractor sales numbers for April 2024.

Domestic sales in April 2024 were at 35805 units, as against 35398 units during April 2024.

Total tractor sales (Domestic + Exports) during April 2024 were at 37039 units, as against 36405 units for the same period last year. Exports for the month stood at 1234 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 35805 tractors in the domestic market during April 2024, a growth of 1 per cent over last year. The government’s Wheat procurement operations are going on in full swing with good mandi arrivals, keeping the rural cash flows healthy. IMD’s forecast of above-normal monsoon rains and festivals in April has helped bring positivity to rural sentiments. Terms of trade continue to stay positive and good cash flows from Rabi harvest are likely to boost tractor demand in the coming months. In the exports market, we have sold 1234 tractors a growth of 23 per cent over last year.”       

Farm Equipment Sector Summary   
  AprilYTD April 
  F25F24% ChangeF25F24% Change
        
 Domestic35805353981%35805353981%
        
 Exports1234100723%1234100723%
        
 Total37039364052%37039364052%

Domestic sales in April 2024 were at 35805 units,

Agribusiness, Company News, Farm Mechanisation, Finance, India, Machinery - Pre-harvesting, Machinery – Post-harvesting

Throughout the financial year 2024, the Mahindra Tractor brand also achieved robust sales of over 2 Lakh units.

Mahindra Tractors, part of the Mahindra Group and the world’s largest tractor manufacturer by volume, has achieved a milestone by selling the brands 40th Lakh tractor, inclusive of exports in March 2024. The Mahindra Yuvo Tech Plus, based on Mahindra’s next-generation Yuvo tractor platform, marks this milestone, having rolled-out from Mahindra’s Zaheerabad facility, Mahindra’s youngest tractor facility and a global production hub for Mahindra Tractors.

Having rolled out its first tractor in 1963 through a partnership with International Harvester Inc. of the U.S., Mahindra Tractors surpassed the 1-Million-unit production mark in 2004 and then went on to claim the title of the world’s highest-selling farm tractor manufacturer by volume in 2009. 9-years later in 2013, Mahindra reached the 2-Million-unit production milestone, followed by the 3- Million mark in 2019. Just 5-years later in FY’24, Mahindra Tractors proudly sold its 40th lakh tractor. Throughout the financial year, the Mahindra Tractor brand also achieved robust sales of over 2 Lakh units.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. “Driven by our purpose of transform farming and enriching lives, we take great pride in selling our 40th Lakh Mahindra Tractor, as we celebrate decades of leadership and 60 years of the Mahindra Tractor all in the same year. With these milestones I would like to extend my heartfelt gratitude to our customers, the farmer, who inspire us every day, as well as our partners and our teams, as we embark on journey of transformation together.”

Vikram Wagh, Chief Executive Officer of Mahindra Tractors, expressed that, “This is a momentous occasion for us at Mahindra Farm Division. 40 Lakh tractor deliveries are a strong testament to the trust that customers have in our brand purpose and our deep understanding of Indian farming. While the past 5-years has been fantastic, during which we clocked our fastest million, we will continue to respond to diverse needs of our customers with the widest portfolio of tractors, while delivering global-first technologies and unmatched reliability as we enable the farmer to Rise.”

Spanning 60 years, Mahindra has broadened its offerings to encompass a diverse range of more than 390 tractor models. During this period, Mahindra Tractors has also established a robust network of over 1200 dealer partners across India, with a customer first orientation that has enabled the brand to provide unparalleled levels of sales, service and spares support to an expanding base of 40 lakh Mahindra Tractors customers.

In appreciation of Mahindra Tractors 40 lakh customers, the company launched a new Digital Video Commercial (DVC) titled ‘40 lakh happy customers and 60 years of brand trust,’ while also rolling-out new offers on its products and services across the country. The campaign revolves around the colour ‘red’, symbolising prosperity and synonymous with Mahindra Tractors.

Throughout the financial year 2024, the Mahindra

Climate, Company News, Sustainable Energy

Mahindra and Johnson Controls plan to roll out the initiative in March 2024 through virtual and in-person workshop sessions as part of a year-long roadshow

As India ramps up efforts to decarbonise its rapidly growing infrastructure of buildings, the Mahindra Group, one of India’s leading industrial enterprises, and Johnson Controls, the global leader in smart, healthy and sustainable buildings, announced the first-of-its-kind Net Zero Buildings Initiative to decarbonise India’s commercial, urban residential and public buildings. The joint initiative will simplify access to key information and resources to help organisations start their net zero-building journeys.

“At Mahindra, we strongly believe in operating as a ‘Planet Positive’ organisation. The group has undertaken multiple initiatives to decarbonise our operational infrastructure, leading to financial and environmental value accretive outcomes. We also understand the critical role of collaboration in accelerating a sustainable future, and hence join hands with Johnson Controls, leaders in net zero building solutions, to share our learnings and best practices with everyone” said Abanti Sankaranarayanan, Chief Group Public Affairs Officer and Group Executive Board Member.

According to the International Energy Agency, three-quarters of India’s anticipated 2040 buildings have yet to be built. With the sector accounting for 20 per cent of emissions and more than 30 per cent of energy consumption in the country, the transition to smart and sustainable buildings is becoming an environmental and economic imperative.

“With India on the cusp of a building revolution, now is the time to actualise the benefits of smart and green buildings for India’s economy and society,” said George Oliver, Chairman and CEO of Johnson Controls. “The joining of our two companies to develop this unique initiative is a natural fit—leveraging Johnson Controls’ leadership in smart building technology and Mahindra’s renowned multi-industry expertise and reach. We believe it will help guide and inspire a movement toward a more sustainable built environment in India and beyond.”

The Net Zero Buildings Initiative—comprising a cost-free, all-in-one toolkit and training—will help building and facility owners learn about best practices of sustainable buildings, implement tools to assess building parameters, identify and implement conservation measures, and understand building regulations in India, available incentives, technology, financing models, and more.

Mahindra and Johnson Controls plan to roll

Award, Company News, India, Nature, Water

Company’s Water Restoration Initiative acknowledged for contributing to equality and climate resilience.

 Swaraj Tractors, a rapidly growing tractor brand under the Mahindra Group, has earned a noteworthy distinction by securing the prestigious ‘Golden Peacock Award for Corporate Social Responsibility’ for the year 2023.

The Golden Peacock Awards, known for their stringent evaluation process, and considered a benchmark of corporate excellence worldwide have acknowledged Swaraj Division, for its outstanding contributions to societal well-being for its flagship initiative, ‘Project Pani’.

‘Project Pani,’ initiated in 2020, focuses on the restoration and renovation of old rainwater harvesting structures. Acknowledged by the stringent evaluation process of the Golden Peacock Awards, Swaraj Division has demonstrated outstanding contributions to societal well-being through ‘Project Pani.’ This aligns seamlessly with Mahindra’s brand pillar, ‘Rise for More Equal World,’ emphasizing the intersection of climate change and social equality.

Over the past two years, ‘Project Pani’ has successfully renovated traditional ponds, recharged old wells, and enhanced the water table in water catchment zones. The project has not only expanded farming acreage but has also ensured yearlong availability of drinking water to a significant population. Additionally, the formation of ‘women water groups’ addresses water-use and governance issues, contributing to the empowerment of local communities.

At the ‘IOD’s 18th International Conference,’ Arun Raghav, Vice President HR, ER, Admin and CSR, Swaraj Division, M&M Ltd., received the award in Mumbai from Chief Justice High Court of Bombay, Devendra K. Uadhyaya.

Company’s Water Restoration Initiative acknowledged for contributing

Agrotech, Company News, India, Machinery - Pre-harvesting

Designed to handle heavy and modern implements with ease, the new range redefines agricultural operations, effortlessly meeting the demands of modern-day agriculture.

Swaraj Tractors, a rapidly growing brand in the country and a part of Mahindra Group, today introduced the new range of tractors in 40 to 50 HP category.

Celebrated for its pivotal role in the Green Revolution and for pioneering India’s first indigenous tractor, the new range of tractors from Swaraj epitomizes its steadfast dedication to advancing India’s agricultural mechanization and addressing the evolving needs of Indian farmers. Poised to bolster the competitiveness of Swaraj’s product portfolio, the new range has been launched within India’s rapidly expanding and dominant 40-50 HP tractor segment.

With an unwavering commitment to empower farmers and boost agricultural productivity, this range sets new performance standards in this fast-growing segment. The new tractors seamlessly blend power, reliability, and style to conquer even the most challenging conditions with the latest features and technology.

Designed to handle heavy and modern implements with ease, the new range redefines agricultural operations, effortlessly meeting the demands of modern-day agriculture, delivering exceptional power and increased productivity in both existing and emerging applications.

Hemant Sikka, President – Farm Equipment Sector, M&M Ltd., commented, “Swaraj brand’s resonance in the hearts of Indian farmers is a source of immense pride. Through this new Tractor range, we’re offering latest features and technology to elevate mechanization in Indian agriculture and empower farmers to achieve higher yields and reduce effort, fostering growth and prosperity.”

Harish Chavan, CEO – Swaraj Division, M&M Ltd., expressed excitement about the introduction of new tractors, stating, “With this new tractor range, we’re steering the brand into the future, by enhancing its core of Power, Reliability and making it ready for future agriculture mechanisation needs. Beyond performance, this new range emphasizes comfort, versatility for emerging applications and broader customer appeal with its contemporary but authentic styling.”

Through this new range, Swaraj has infused modern aesthetics, integrated contemporary design elements, and preserved its brand’s authentic timeless design, ushering in a sense of modernity and in a new era for the brand. Furthermore, to enhance the brands appeal to a wider customer base, Swaraj has also roped in its own satisfied customer and legendary cricketer MS Dhoni to endorse the brand, featuring in its new marketing campaign. The new campaign highlights the superior features of the latest range and underscores the enduring loyalty of Swaraj’s customer base.

Designed to handle heavy and modern implements

Agrotech, Company News, India, Machinery - Pre-harvesting

 Swaraj Target facilitates horticulture mechanization, a fast-growing segment in Indian agriculture.

Swaraj Tractors, a rapidly growing tractor brand in the country and a part of the Mahindra Group, launched a Compact Light Weight tractor range called the ‘Swaraj Target’. The new range from Swaraj is expected to set a new benchmark in the Compact Light Weight tractor category, for unmatched performance, first-in-class features, and state-of-the-art technology.

The name “Swaraj Target” reflects the purposeful design of the new tractor range, aimed at fulfilling the unique needs of Indian farmers and assisting them in achieving their farm productivity targets by adopting specialized mechanization solutions.

Developed specifically for progressive and aspirational farmers who are eager to embrace latest agricultural practices and technology, the new range seamlessly combines power and advanced technology features, providing exceptional efficiency in spraying, interculture operations, and various other applications.

By adopting advanced technology, the new range provides enhanced operator comfort through unique technology features like a synchromesh gear box for smooth gear shifts, reminiscent of a car-like experience, while enabling the operator to control multiple implements through just the touch of a button. Its narrowest track width and low turning radius allow farmers to navigate tight spaces effortlessly, significantly increasing productivity and minimizing crop damage.

Swaraj Tractors will initially debut two models in the 20-30 HP (14.91 – 22.37kW) category under the Swaraj Target range. The Swaraj Target 630 model will first be available through Swaraj’s extensive dealer network in Maharashtra and Karnataka, with attractive price starting from Rs 5.35 lakhs ex-showroom.  The Swaraj Target 625 will be introduced in due course.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd, expressed his excitement about the launch, stating, “Introduction of Swaraj Target opens a new segment for growth of Swaraj Tractors and facilitates horticulture mechanization, a fast-growing segment in Indian agriculture. This new addition to Swaraj’s portfolio is completely in-line with our Farm Equipment sector’s purpose of Transform Farming and Enrich Lives making us future ready.’’

Harish Chavan, CEO – Swaraj Division, M&M Ltd, emphasizes that the Swaraj Target represents a significant milestone in their mission to provide farmers with the most advanced technology tractors. He further stated, “Swaraj Tractors are renowned for their higher power and reliability, and with this new platform, we are offering advanced technology that will assist farmers in achieving their targets in farm productivity by adopting modern agricultural practices and high value crops.”

 Swaraj Target facilitates horticulture mechanization, a fast-growing

Company News, India, Machinery – Post-harvesting

Mahindra’s Tribute to Indian Farmers on Kisan Diwas.

Mahindra & Mahindra’s Farm Equipment Sector, a division of the Mahindra Group and the largest tractor producer in the world by volume, today celebrated ‘Kisan Diwas’ in a unique way by forming an image of a farmer with 500 nos. Mahindra Tractors at the company’s Nagpur Plant. This honour was bestowed upon the farmers to recognise their noteworthy and purposeful contribution to the field of agriculture, the backbone of the Indian economy. As a part of conveying gratitude towards farmers, Mahindra Tractors made a digital film showcasing India’s largest tractor installation forming an image of a farmer as #Desh ki Tasveer. 

 Also, on the day, a host of on-ground activities & customer engagement initiatives are planned across Mahindra Tractors dealerships, where farmers can bring in their photographs and order their personalised calendars as well.

On the occasion, Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd said, “We at Mahindra Tractors adhere to the ‘Rise for Good’ philosophy, whereby we work collectively to enhance the daily lives of the communities in which we live. It is our endeavour to recognise and felicitate the heroes of rural India, our farmers. Our farmers play a multi-dimensional role in the field and execute some of the most challenging tasks, which require tremendous hard work. We at Mahindra understand their commitment, dedication and contribution in building the nation & with this digital film we express our gratitude towards them with ‘Desh ki Tasveer’.

Mahindra’s Tribute to Indian Farmers on Kisan

Company News, Finance, India, Machinery - Pre-harvesting

The company’s domestic sales in August 2022 were at 20,138 units, as against 19,997 units during August 2021. The total tractor sales including domestic and exports during August 2022 were at 21,520 units, as against 21,360 units for the same period last year. Exports for the month stood at 1,382 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 20,138 tractors in the domestic market during August 2022, with a growth of 1 per cent over last year. Monsoon has been overall positive with 8 per cent higher than LPA, however the spatial distribution has been deficient in key paddy states of eastern India, thus impacting paddy sowing. We are optimistic that tractor purchases on auspicious days in the festive season will lead to a revival in demand, as farmers start preparation for harvesting operations. We are preparing for strong tractor demand in the festive season. In the exports market, we have sold 1,382 tractors, a growth of 1 per cent over last year.”

The company’s domestic sales in August 2022

Company News, India, Machinery – Post-harvesting

The tractor major has also become a pioneer in horticulture mechanisation by recently introducing CODE by Swaraj, a multi-purpose farm machine

Swaraj Tractors, part of Mahindra Group, one of the leading brands in the Indian Tractor industry, rolled out its 20th Lakh tractor from the company’s Plant in Mohali, Punjab on Tuesday. This milestone is a testament to the customers’ trust and confidence in the brand Swaraj.

Harish Chavan, CEO, Swaraj Division, M&M Ltd rolled out the 20th lakh tractor in a special ceremony attended by employees. Speaking on the occasion he said, “This achievement has further cemented brand Swaraj’s reputation of being reliable and one of the fastest growing brands in the domestic tractor market over the past few years. We are thankful to all our customers and stakeholders for their wholehearted support towards the growth of this brand.”

Since its inception in 1974, the first milestone of 10 lakh tractor production was achieved in 2013. Now within a span of just nine years, we have accomplished 20 Lakh tractor production in 2022, which is a testimony of the faster growth of the brand Swaraj. What makes this achievement more remarkable is the fact that this has come when the industry was going through unforeseen challenges due to the pandemic in the last couple of years.

 Hemant Sikka, President, Farm Equipment Sector, M&M Ltd said, “This journey to reach the 20 Lakh production mark today has been challenging and exciting for us. We are happy that over the years Swaraj has been able to make a significant contribution to the lives of Indian farmers. Going ahead we look forward to providing more agri-based solutions and enabling mechanisation. This achievement is another stepping stone towards living our purpose of Transform farming and enriching lives”.

Swaraj manufactures tractors in the range of 15HP to 65HP and provides complete mechanisation solutions. The tractor major has also become a pioneer in horticulture mechanisation by recently introducing CODE by Swaraj, a multi-purpose farm machine. Currently, Swaraj has two fully functional tractor manufacturing plants, its own Foundry & R&D all located in Punjab, while another new manufacturing plant of Swaraj is also coming up in the state.

The tractor major has also become a

Agro Universities, Machinery – Post-harvesting

Meritorious students from engineering colleges get financial assistance & opportunities to work on live agri-mechanization projects

Swaraj Tractors, part of Mahindra Group, has awarded scholarship to 58 students including 15 girls under Mera Swaraj Education Support Program. The ‘Mera Swaraj Education Support Program’ was launched last year for engineering students across the country and aims to create a future pool of engineers.

Over 1500 engineering students applied for this scholarship this year out of which 148 students were shortlisted post screening and written test. A team comprised of senior members of Swaraj assessed the shortlisted students and finally awarded scholarship to 58 meritorious students.

During the assessment, all shortlisted students got the opportunity to converse with the seasoned professionals from Swaraj and gathered valuable inputs for their career development. This program is designed to support meritorious engineering students from economically weak background to provide them financial assistance along with holistic industry exposure.

Through the ‘Mera Swaraj Education Support Program’, students will not only receive financial support for four years, subject to consistent academic performance but will also get practical exposure to modern tools and technologies through plant and field visits. As a part of their internships, they will also work on live farm-mechanization projects mentored by industry experts. All students under this program will be subsumed into Swaraj’s final placement process. Also during their internships, the students will be allowed to work on live farm-mechanization projects and shall be mentored by industry experts.

Meritorious students from engineering colleges get financial

Agrotech, Start ups

The team have built a digital platform with a big Bharat footprint – including 500,000 app users, 4 million rental hours and 4 million acres of farmland

Mahindra Group has increased its stake in Carnot Technologies, an ag-tech startup, to approximately 69 per cent. The group has also affirmed its commitment to its vision of making Krish-e, the group’s farming as a service vertical, India’s largest ecosystem of digital products and solutions. As part of the round, an attractive ESOP pool for future employees has also been created.

Talking about the investment Senior Vice President of Farm Equipment Strategy and Head Krish-e Ramesh Ramachandran said, “This investment signals our strategic commitment to Carnot. They have been at the forefront of building for Bharat and innovating specifically for farmers. Since our last investment in late 2020, they have been our partner in leading the digital product and technology vision for Krish-e and in just under 18 months we have built a digital platform with a big Bharat footprint – including 500,000 app users, 4 million rental hours and 4 million acres of farmland. We now deepen the ties and continue building on our strengths.”

Carnot Technologies is a start-up founded by IIT Bombay alumni which developed the leading agriculture IoT platform Simha (rebranded to Krish-e Rental) which now has over 25,000 tractors, harvesters and sprayers working on over 3 million acres of land each season. The platform is protected by 5 patents and was awarded the Qualcomm Design in India award for $100K by then Minister of Cabinet for Information Technology Ravi Shankar Prasad.

“The team has also developed the Krish-e app which through its unique and intuitive farmer centric design is helping farmers earn up-to Rs 15,000 more per acre.” said Pushkar Limaye, Co-founder & CTO at Carnot. “In the course of our partnership with M&M, we realised that someone had to understand our farmers, and make products that are innovative, highly cost conscious and make sense for our farmers. And if it’s not the next generation of engineers and entrepreneurs then who will build them? With this round of investment, we also want to move into top gear, in pursuit of building a great team and a data driven culture within every function.”

The team aims to invest more in their technology and people to scale rapidly in the next year. Carnot CEO and Co-founder Rohan Vadgaonkar added “With our technology and product mindset and Mahindra’s strong brand and presence in rural India, we’re perfectly poised to build India’s largest agri marketplace.”

The team have built a digital platform