Bengaluru-based horticulture firm Fasal has successfully raised Rs 100 crore (approximately $12 million) in its Series A funding round. The investment was led by TDK Ventures and British International Investment (BII), with enthusiastic participation from existing backers, including 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific.
Cultivating Success through Technology and Innovation
Founded in 2018 by Shailendra Tiwari and Ananda Verma, Fasal has distinguished itself as a full-stack horticulture company, integrating artificial intelligence (AI), crop sciences, and the Internet of Things (IoT) to revolutionize traditional farming practices. This Series A funding follows a pre-Series A round that secured $4 million and a 2019 funding round of $1.6 million, highlighting the growing recognition and support for Fasal’s innovative approach to agriculture.
Sowing the Seeds of Sustainable Horticulture Practices
Fasal’s core mission revolves around sustainable horticulture practices and resource optimization. The freshly secured funds are earmarked for the expansion of the company’s operations in India and Southeast Asia. Additionally, Fasal aims to play a pivotal role in promoting sustainable agricultural practices on a global scale.
Fasal Fresh: A B2B Brand Driving Agricultural Transformation
Operating under its B2B brand, Fasal Fresh, the company has devised a unique strategy to benefit both farmers and the supply chain. By leveraging its expertise, Fasal Fresh ensures optimal market rates for farmers while streamlining the procurement process, contributing to the overall efficiency of the agricultural supply chain.
Impressive Impact on Farmers and Agriculture
Fasal’s reach extends to horticulture farmers across more than 75,000 acres, cultivating a variety of crops such as grapes, pomegranates, bananas, apples, chillies, and cardamom. The implementation of Fasal’s patented IoT-crop intelligence technology has resulted in significant reductions in irrigation water consumption and pesticide usage, with reported increases in crop yields and improvements in quality of up to 30%.
According to Fasal, farmers utilizing the platform have collectively reduced irrigation water consumption by a staggering 82.8 billion liters, while pesticide usage has seen a notable decline of 127,426 kilograms. These impressive statistics underscore the tangible benefits of incorporating technology into agriculture, addressing critical challenges and contributing to sustainable farming practices.
Global Recognition and Key Investors
The Series A funding round was spearheaded by TDK Ventures, the venture capital arm of the renowned TDK Corporation, emphasizing Fasal’s position as a trailblazer in the agri-tech space. British International Investment (BII) also played a crucial role in leading the funding round, signaling global interest and confidence in Fasal’s potential impact on the horticulture industry.
The continued support from existing investors further underscores confidence in Fasal’s strategic vision and its ongoing contributions to the agricultural ecosystem. This collective backing positions Fasal for continued growth, innovation, and positive impact on sustainable farming practices.
Cultivating a Global Impact
Armed with the newly secured funds, Fasal is poised for accelerated growth and expanded geographical reach. The planned expansion into India and Southeast Asia aligns with the company’s overarching vision of creating a global impact on horticulture practices. Fasal seeks to be a catalyst for positive change, influencing the way crops are cultivated and managed on a worldwide scale.
