Krish-e, a Mahindra’s AgTech Business Launches IoT Based Smart Kit for Farm Equipment

With the Krish-e Smart Kit, Mahindra aims to track & digitise every acre & kilometre of rental activity carried out in the country

Krish-e Mahindra’s AgTech business launched the Krish-e Smart Kit (KSK).

An after-market device, the Krish-e Smart Kit is the first-of-its-kind smart device that provides equipment owners with detailed insights of their tractors and farm equipment, through GPS enabled time tracking and remote monitoring of various parameters from the comfort of a smart phone.

Krish-e Smart Kit

Easy tracking of all brands of tractors, harvesters & rice transplanters via a smart phone or desktop  Increases operator revenue with accurate acreage measurement   Reduces fuel cost by monitoring fuel levels and alerting for fuel theft  Tracks total fleet expenses and reduces fleet maintenance cost Increases equipment security through geofencing alerts Offers advanced trip replay features Retails at an introductory price of INR 4,995

A cutting-edge offering, the Krish-e Smart Kit is developed by Carnot Technologies, an Ag-Tech start-up, founded in 2015 by four alumni from IIT Bombay in their mid-20s, who as part of the IITB racing team, developed solutions to monitor the performance of race vehicles from the pit. Today Carnot Technologies is engaged in manufacturing and retailing products and services related to internet-connected devices for monitoring performance of vehicles and equipment, with M&M Ltd. having acquired a significant stake in the company.

The Krish-e Smart Kit enables equipment owners and rental entrepreneurs to sustainably improve fleet performance, improve incomes and manage maintenance costs, while reducing tractor downtime and preventing unauthorised usage of their tractors. The Smart Kit also includes an advanced trip replay feature for tracking commercial transportation and trolley activity.

The kit is brand agnostic and can be installed on any new or old brand of tractor or farm equipment, such as harvesters, rice transplanters and self-propelled sprayers. The kit is paired with an app called the Krish-e Rental Partner App and is available on the Google Play Store. In addition to tracking and monitoring, the app also offers users access to an inventory of high-end farm machinery on a pay per use basis

Ramesh Ramachandran – Senior Vice President and Head Krish-e – Farm Equipment Sector, M&M Ltd. said, “An industry first aftermarket IoT solution, the Krish-e Smart Kit presents the smartest, most affordable and sustainable way for farmers and businesses to connect and monitor their farm equipment on the go. In its scale-up phase, with over 25,000 active users we will officially launch the Krish-e Smart Kit. Besides farmers, we invite institutions, FPO’s, government bodies and start-ups in the state to partner with us on this connected journey as we aim to digitise every acre and kilometre of rental activity. Going forward we aim to become the leading provider of connectivity for farm equipment in India.”

Pushkar Limaye – CTO, Carnot Technologies commented, “With a vision of building world-class products out of India, we came up with a small plug-and-play device for tractors to help improve their productivity using IoT, with real-time updates on smartphones. And today we are glad to see over 25,000 kits having already helped farmers digitise their businesses and adding real value on ground. And today with the official launch of the Krish-e Smart Kit, together with Mahindra, we aim to digitise Indian farming with an India-based solution, while reaching a larger audience of tractor owners and rental business owners."

So far Krish-e has over 25,000 active subscribers, 85% DAU (daily active users), spending about 55 minutes per day on the app (in season), with 70% resubscriptions post expiry of the free subscription period.

Individual farmers, institutional buyers, FPOs, and start-ups can purchase the Krish-e Smart Kit from the nearest Krish-e center, the Krish-e website, or Krish-e Sahayaks by calling 1800-266-1555 at an early bird price of INR 4,995 (including taxes and a six-month subscription package for the aforementioned services).

Launched in 2020, Krish-e is a new business vertical from Mahindra. Krish-e offers technology driven services, to minimise income potential of farmers and other value chain players sustainably. Carrying the tag line – ‘Expert Takneek. Naye Upay. Parinaam Dikhaye’, Krish-e services currently focus on the areas of Farm Advisory, Equipment Rental & Used Equipment through an omni channel presence which includes 150 Krish-e centers and app-based touch points.

Krish-e efforts have been recognised and included in the World Economic Forum’s (WEF’s) January 2023 White Paper on “Accelerating Business Action on Climate Change Adaptation” as an example on how businesses can collaborate with communities to ensure the sustainability of critical natural resources.

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.

Mahindra-Qualcomm-backed Deep Tech Startup Carnot Technology Enters the Agri Fintech Space

Carnot Technology join hands With Avanti Finance to offer Industry’s first cutting-edge financing solutions based on IoT data dedicated to the Rental Entrepreneurs

Carnot Technologies, India’s leading agri AI-IoT platform backed by Mahindra begins a strategic partnership with Avanti Finance. Having revolutionized the tractor renting module in India with their deep tech that monitors tractors and improves earning potential of Rental Entrepreneurs, Carnot now forays into the agri-fintech space. Through this strategic partnership, Carnot has launched the Industry’s first working capital credit access while leveraging IoT data as well as unique tech cuapabilities and resources.

Carnot currently works with more than 26,000 rental entrepreneurs, a specific set of communities in the rural ecosystem who are the driving force behind the mechanization in India. The rental business is seasonal and REs capital investment is at risk for a long time as payment from the farmers is often delayed. This RE community heavily relies on informal sources of lending and uses its hard-earned savings to continue its business operations.

Pushkar Limaye - Co-Founder and CTO

Through this unique partnership, Carnot Technology and Avanti Finance have created an apt credit product that will help REs manage their business operations and improve their working capital requirements.

With an AI-enabled IoT Kit connected to tractors, REs uses the mobile-based application for real-time live tracking of their assets, exact acreages of work done, fuel status, and Accounting solutions. With a first-of-its-kind data infrastructure model, this partnership will enable new ways to credit underwrite the customers, allowing them to access tailored credit solutions based on their cash flow.

Pushkar Limaye, CTO & Co-Founder of Carnot Technologies, said “Carnot’s vision is to build products and solutions to help Bharat’s rental entrepreneurs succeed. Easy access to financing solutions is central to their livelihood, which is highly seasonal in nature. Our partnership with Avanti Finance is a perfect example of how agri-tech companies can work with lenders and deliver first-of-its-kind innovative solutions.”

“We at Avanti are excited about this partnership with Carnot. Together we will be able to further serve customers in the Agri value chain including farm-implements. In line with our mission of supporting livelihoods and inclusion, this partnership will enable credit access to farmers by involving all stakeholders in the ecosystem. This will be possible by combining Avanti’s platform with Carnot’s on ground technological solutions.” says Sunil Kumar Tadepalli, Chief of Partnerships, Avanti Finance.

About Carnot Technology -

 
Carnot Tech, India’s leading AI-enabled Agri IoT platform. Initially established as a tech-enabled solution to increase visibility about the automobile movement, the company pivoted to agri-tech in 2017 and is now the only company in India focused on the growth of Rental Entrepreneurs, a community of more than 60 Lac people in the tractor rental business. Backed by, Mahindra And Mahindra with strategic investment, Carnot Technology is a Service contractor for the Krish-e app the company is helping Mahindra and Mahindra tap into the farmer community to reach a wider audience of first-time tractor buyers.
The IoT platform Simha (rebranded to Krish-e Rental) by Carnot Technology 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. What began with 3 IITians is now a company of over 70+ team members, operating in more than 8 states and impacting over 1.5 Lac farmers.

Carnot Tech is now working on its global expansion. The company has already started catering to Rental Entrepreneurs in Europe and Africa and is witnessing a massive response to its product.

About Avanti Finance

Avanti’s mission is to enable sustainable livelihoods and empower the next 100 million households through accessible and affordable financial services. It is building a co-creation platform that fosters hyperlocal livelihood innovation and mass customisation. Avanti believes community-centric systems enable the digitisation of the social trust of the users, which is critical to building scale in the unbanked segment. For more information see www.avantifinance.in

Mahindra To Invest $1 Mn in Connected Car IoT-Device Startup Carsense For 23% Stake

Auto major Mahindra & Mahindra Ltd will be investing about $1 million (~₹ 6-Crore) in Mumbai-based connected car IoT-device making startup Carsense (formerly Carnot) for 22.9% stake in Carnot Technologies Pvt Ltd, the parent company of brand name Carsense.

The funds will used by the startup to bolster its product line by strengthening technology solutions, said a report by VCCircle.

As part of the deal, Mahindra will acquire up to 1,296 equity shares and subscribe up to 6,074 compulsorily convertible cumulative preference shares of Carnot Technologies, said Mahindra, in a stock-exchange disclosure.

Founded in 2015 by IIT Bombay alumni Urmil Shah, Pushkar Limaye, Rohan Vadgaonkar and Prathamesh Joshi, Carsense is an IoT device that connects a user’s car or bike to their smartphone. The device then send alerts to users if their car/bike is being towed or stolen. It also recognises if the car/bike suffers an accident and informs emergency contacts in such a scenario. The device also measures mileage and shares analytics and insights to improve it. Using the device, car/bike owners can also share their road trips on social media platforms.

CarSense was one of the three startups selected by chipmaker Qualcomm for its Qualcomm Design in India Challenge in year 2016. Earlier in November 2015, the startup had also raised a seed round of funding from Kunal Shah and Sandeep Tandon, the founders of FreeCharge. In 2017, the startup launched its smar car device on online marketplace Amazon India.

Carsense posted a turnover of ₹1.2 crore in FY 2016-17.

The vehicle diagnostics market was estimated to be $13.91 Billion in 2016, and is projected to grow to $30.22 Billion by 2021, registering a CAGR of 16.79% from 2016 to 2021.

With Carsense, Mahindra is probably aims to capture the piece of vehicle diagnostic market in India as it is to be noted that in 2012 Mahindra introduced the BLUE SENSE app for the XUV50, an SUV it manufactures. This app could sync with the vehicle's infotainment system via Bluetooth and users were not only able to control the music / radio channels but also view vehicle information on their smartphone such as climate control, distance to empty, tyre pressure, vehicle service reminder, door-open warning etc. However, it was limited to android phones only. Mahindra however couldn't succeed with this and over the time it became obsolete.

Last week, Mahindra picked up a 16% stake in Bengaluru-based self-drive car rental startup Zoomcar for $27.6 million as part of a Series C round of funding worth $40 million (Rs 256 crore).

Before that, an another homegrown automobile components major Bharat Forge picked up 45% stake in Pune-based electric vehicle startup TORK.

Mahindra To Invest $1 Mn in Connected Car IoT-Device Startup Carsense For 23% Stake

Auto major Mahindra & Mahindra Ltd will be investing about $1 million (~₹ 6-Crore) in Mumbai-based connected car IoT-device making startup Carsense (formerly Carnot) for 22.9% stake in Carnot Technologies Pvt Ltd, the parent company of brand name Carsense.

The funds will used by the startup to bolster its product line by strengthening technology solutions, said a report by VCCircle.

As part of the deal, Mahindra will acquire up to 1,296 equity shares and subscribe up to 6,074 compulsorily convertible cumulative preference shares of Carnot Technologies, said Mahindra, in a stock-exchange disclosure.

Founded in 2015 by IIT Bombay alumni Urmil Shah, Pushkar Limaye, Rohan Vadgaonkar and Prathamesh Joshi, Carsense is an IoT device that connects a user’s car or bike to their smartphone. The device then send alerts to users if their car/bike is being towed or stolen. It also recognises if the car/bike suffers an accident and informs emergency contacts in such a scenario. The device also measures mileage and shares analytics and insights to improve it. Using the device, car/bike owners can also share their road trips on social media platforms.

CarSense was one of the three startups selected by chipmaker Qualcomm for its Qualcomm Design in India Challenge in year 2016. Earlier in November 2015, the startup had also raised a seed round of funding from Kunal Shah and Sandeep Tandon, the founders of FreeCharge. In 2017, the startup launched its smar car device on online marketplace Amazon India.

Carsense posted a turnover of ₹1.2 crore in FY 2016-17.

The vehicle diagnostics market was estimated to be $13.91 Billion in 2016, and is projected to grow to $30.22 Billion by 2021, registering a CAGR of 16.79% from 2016 to 2021.

With Carsense, Mahindra is probably aims to capture the piece of vehicle diagnostic market in India as it is to be noted that in 2012 Mahindra introduced the BLUE SENSE app for the XUV50, an SUV it manufactures. This app could sync with the vehicle's infotainment system via Bluetooth and users were not only able to control the music / radio channels but also view vehicle information on their smartphone such as climate control, distance to empty, tyre pressure, vehicle service reminder, door-open warning etc. However, it was limited to android phones only. Mahindra however couldn't succeed with this and over the time it became obsolete.

Last week, Mahindra picked up a 16% stake in Bengaluru-based self-drive car rental startup Zoomcar for $27.6 million as part of a Series C round of funding worth $40 million (Rs 256 crore).

Before that, an another homegrown automobile components major Bharat Forge picked up 45% stake in Pune-based electric vehicle startup TORK.