Fasal Raises Rs 100 Crore in Series A Funding Led by TDK Ventures and BII

22 Dec 2023 , 03:32 PM

Agritech firm Fasal, backed by Omnivore, secured Rs 100 crore in a series A funding round led by TDK Ventures and British International Investment (BII) on December 22.

Fasal, co-founded by Shailendra Tiwari and Ananda Verma in 2018, focuses on precision farming, offering irrigation alerts, farm-level forecasts, and pest and disease warnings through its patented IoT system called Kranti.

The funds will be utilized to expand and diversify its B2B brand, Fasal Fresh, which delivers precision-grown produce to consumers through various channels. Additionally, the capital will support business operations expansion in both India and Southeast Asia.

The company plans to enhance research and development in farm IoT-crop intelligence technology and develop a carbon-negative horticulture value chain.

Fasal aims to increase its presence from 75,000 acres to 500,000 acres with the infusion of funds, providing farmers with access to sustainable crop inputs, farm-level crop insurance, and working capital at lower interest rates.

The funding round saw contributions from ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures, along with existing investors such as 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific.

Fasal, covering over 75,000 acres across more than 20 crops, plans to transform the $228 billion Indian horticulture industry with its full-stack platform anchored on IoT-crop intelligence technology.

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