Agri startup Farmkart on Wednesday announced its foray into unstructured agriculture-equipment rental business by launching a tech-enabled platform rent4farm.

The company, in a statement, said rent4farm will help farmers rent high quality machinery and equipment at competitive rates.

In the first phase, Farmkart has already started providing the rental services in 200 villages near Barwani, Madhya Pradesh, by partnering 100 certified equipment suppliers.

"We started rent4farm in mid-June this year and the response has been quite good. Now, we are expanding the facility to a wider area and expect to serve at least 10,000 farmers," said Farmkart founder and CEO Atul Patidar.

By the end of 2021, the company plans to take the service to 20,000 farmers in 3,500 locations with a fully-operational mobile application, he said.

At present, more than 1,00,000 farmers are associated with Farmkart.

Farmkart's products and services are available across 3,500 villages in Madhya Pradesh and the company is in process of expanding its footprints to other geographies, he added.