Mahindra enters farm equipment rental biz with Trringo

MUMBAI: Mahindra Group on Monday announced its foray into the agricultural equipment rental services under a new ecommerce startup called Trringo. The group will invest over Rs 10 crore in the venture and look for external funding once it expands the business model.

TRRINGO will operate as a franchisee-based model and bring in new-age digital technology to the tractor rental business. This is expected to significantly increase the reach of farm mechanisation and enable digital empowerment of farmers in India.

“Farm Equipment Sector (FES), a part of Mahindra group, has forayed into the agricultural equipment rental services with Trringo that will operate as a franchisee based model and will effectively bring in new age digital technology to the tractor rental business,” M&M said in a regulatory filing.

M&M President & Chief Executive Farm Equipment & Two Wheelers Rajesh Jejurikar said Trringo will be an e-commerce startup which will provide the brand promise of equipment availability, commitment and performance, to transform lives of farmers. “We hope to ramp up this offering to five states this year,” he added. As part of first model, Trringo will use a proprietary digital platform as an enabler to process orders and pass them on to the nearest franchisee through location based mapping.