US $4 M secured by Precision agri platform Fasal in pre–Series A funding round
Fasal, an India-based precision agricultural platform, has secured $4 million in a pre-Series A round-headed by 3one4 Capital, with Genting Ventures (Malaysia) and current investors Wavemaker Partners and Omnivore also participating.
The Yield Lab Asia-Pacific, Antares Investments, and Nexus’ Sandeep Singhal are among the other investors in this round.
Fasal plans to utilise the capital acquired in this round to grow their business across India and Southeast Asia, improve their full-stack services, and hire more people in sales and marketing, agronomy, and technology.
By assuring optimal productivity from tiny farms, Fasal’s eco-friendly and cheap precision farming technology is challenging the USD 42 billion advanced horticultural business.
Fasal was created in 2018 by Shailendra Tiwari and Ananda Verma in Bangalore. Ananda studied computer science at IIIT Bengaluru, while Shailendra graduated from NIFT with a degree in production engineering. Both of the company’s founders are from Uttar Pradesh, where their families have been farming for generations.
Fasal is an IoT SaaS platform for progressive horticulture that is powered by AI. With the use of on-farm sensors and scientific algorithms, Fasal provides farmers with actionable farm and crop information in vernacular languages.
New services, such as F&V market linkages and parametric crop insurance, are also being developed by the platform.
To date, the company has helped save over 9 billion liters of water from irrigation, cut pesticide spending by 60%, and enhanced yields over 40,000 acres of agriculture.
