Fasal, a Bangalore, India-based provider of a full-stack precision farming solution, raised a Series-A funding round of INR 100cr.
Backers included British International Investment, TDK Ventures, ITI Growth Opportunities Fund, Navam Capital and Aureolis Ventures, and existing investors 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific.
The company plans to utilize the funds to accelerate research and development, focusing on innovation in their proprietary farm IoT-crop intelligence technology, and development of advanced cross-industry data products to foster carbon-negative agriculture value chain, to expand the business in India, Southeast Asia and Africare, diversify its B2B brand, Fasal Fresh.
Founded in 2018 by Ananda Verma, and Shailendra Tiwari, CEO, Fasal is a precision horticulture pioneer that leverages AI, Crop-sciences, and IOT to provide farm-level, crop-specific & crop-stage-specific intelligence enabling resource optimization (water, pesticides, etc) and higher farm productivity while procuring the high quality, traceable produce for an end-to-end optimized value chain play.
Since the commercialization of its technology, Fasal has worked with horticulture farmers spanning more than 75,000+ acres growing crops like grapes, pomegranates, bananas, apples, chili, cardamom, etc. by enabling them to grow more and grow better with its patented IoT-crop intelligence technology.
Raising a Series- A funding round of INR 100cr. is no easy achievement. But the entire team of Fasal made it happen under the guidance of their senior management. This is surely something to be proud of. Great work!~ Dr Shishir said Gupta founder & CEO of StartupLanes
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