Caret Capital Invests in Tractor Seva — India’s first multi-brand tractor service network
Gurgaon, 20th June 2024
Caret Capital is delighted to announce an investment in Tractor Seva, India’s first tech enabled multi-brand tractor service network.
The Nagpur based startup was founded by Dhruvil Sheth and Sajid Mulla, both engineers with deep work experience in the tractor industry in companies like Mahindra, Kubota, TAFE, Eicher and Escorts.
Tractor Seva on-boards existing tractor service workshops as their franchisees and provide them the cover fire of a brand along with SOPs, cost-efficient & reliable supplies of spares & consumables and technology platform.
When a farmer / tractor owner books a service via Tractor Seva (TS), they get features like online booking, customer care number, guarantee of quality parts, The franchisees benefits by becoming a preferred service centre in their vicinity because they can provide a new experience to their customers, tech platform for stock management, sales & marketing support, on-call support… and initially a makeover of his existing workshop.
According to Prajakt Raut, Pankaj Bansal and Karan Mittal, Managing Partners of Caret Capital, “In a country like India, optimising existing assets is a huge market opportunity. There are over 10mn (1cr) tractors across India. Each of these spend on an average Rs.15,000 on maintenance & services. The pure service market for tractors in India is Rs.7,000 cr. Additionally, there is the adjacent spares parts market worth Rs.8,000 cr currently. This is significant market potential that Tractor Seva is addressing.”
“At Tractor Seva, our aim is to make farming efficient in India. We are revolutionizing the farmer’s experience in the tractor servicing sector by offering quality services through our franchise network. Our customized services provide value additions beyond the traditional offerings of local mechanics, catering specifically to the needs of farmers in remote rural areas of India. Our network not only enhances employability but also ensures that Indian farm machinery remains operational and ready for farming, even in unpredictable environmental conditions” — stated Dhruvil Sheth and Sajid Mulla, CoFounders, Tractor Seva.
About Caret Capital
Caret Capital is a sustainability fund that invests across Mobility, Distribution and Employment.
Caret 360 is the CXO community initiated by Caret Capital to help startups and industry discover each other.
Caret Capital’s portfolio comprises startups that are transforming three key aspects of the value chain — Goods and Services Supply Chain, Human Capital Supply Chain and Assets and Infra Supply Chain: Stylumia, an Ai-enabled demand forecasting platform for global fashion and lifestyle brands; Unstop, a platform for companies to identify, curate, hire and onboard freshers; Omnivio, an omnichannel Control Tower (CT) platform for modern retailers and omni-brands; Celcius, India’s first asset-light cold supply chain solution provider; Xindus, a technology startup that simplifies exports; Tusker, a rural logistics consolidation and distribution platform; JustDeliveries, an intra-city logistics platform for perishable; Conmove, a container logistics platform; Spareshub, a B2B distribution platform for auto spares and accessories; Citrus Freight, India’s 1st container booking platform for perishables; and MoooFarm, a dairy agri-tech startup.
