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Investments

EM3

  • LocationIndia
  • SectorAgriculture
  • Type of investmentEquity investment

A $7.4m USD equity investment in EM3 AgriServices, India’s first pay-per-use farm mechanisation services company providing affordable farm services to smallholder farmers.

EM3

The development problem

Over 50% of the Indian population is dependent on the agriculture sector for its livelihood. Low productivity among smallholder farmers contributes to millions of Indian farmers living in poverty, with rice and wheat yields within India trailing global yields by 70%. A significant barrier to inclusive growth and increased productivity is the lack of access to mechanised farming equipment, which is too expensive for most smallholder farmers. As a result, millions of farmers are left relying on an informal and inefficient market of service providers that is both unreliable and unable to address large demand.

The innovation

EM3 has developed a first of its kind solution to tackle the challenges that Indian smallholder farmers face when trying to access mechanised farming equipment. Through an innovative business model which formalises and improves upon existing informal service channels, EM3 is making farming mechanisation affordable for the first time to millions of rural poor Indian farmers.

EM3 connects equipment owners with smallholder farmers in need of services, offering on-demand, pay-per-use services of harvesters, tractors and other farming equipment. Through EM3’s platform, smallholder farmers can access end-to-end farming services such as land preparation, sowing and harvesting, all billed per acre or per hour.

GIF's investment

A $7.4m USD equity investment as part of EM3’s Series B round alongside Aspada Investment Company. Part of GIF’s investment is subject to the achievement of certain operational milestones.


Why we invested

High potential social return by providing millions of smallholder farmers to access mechanization as a service, leading to significant increases in incomes for smallholder farmers

Strong management team with deep understanding of the local agricultural industry, on-the-ground experience with the Indian tractor market and proven ability to build partnerships

Business model that is well-adapted to the local agriculture landscape, building on top of existing relationships with village agents, and benefiting each actor in the value chain

Significant scale potential through organic growth, institutional and government partnerships in a large addressable market that is currently unserved

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