Fasal, a Bangalore, India-based agritech startup that provides a full-stack precision farming solution, has secured INR 100 Cr ($12 Mn) in Series A funding.
The round was led by TDK Ventures and British International Investment (BII). The round included participation from ITI Growth Opportunities Fund, Navam Capital, Aureolis Ventures, and existing investors such as 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific.
TDK Ventures is a corporate venture capitalist firm investing globally in early-stage tech startups. The firm seeks to invest in companies operating in the materials, energy, cleantech, mobility, industrials, technology, connectivity & computing, and health tech sectors.
British International Investment (BII) is the development finance institution of the United Kingdom with a mission to help solve the biggest global development challenges by investing patient, flexible capital to support private sector growth and innovation.
Fasal Use of Funds
The company plans to utilize the funds to scale and expand its B2B brand, Fasal Fresh, extending operations in India and Southeast Asia. The capital will also be directed towards advanced research and development in its proprietary farm IoT-crop intelligence technology and the creation of a carbon-negative horticulture value chain.
Founded by Shailendra Tiwari and Ananda Verma in 2018, Fasal is a precision horticulture platform that leverages AI, crop sciences and IOT to provide farm-level, crop-specific and crop-stage-specific intelligence to enable resource optimisation (water, pesticides, etc) and higher farm productivity while procuring the high quality, traceable produce for an end-to-end optimised value chain play.
Company: Wolkus Technology Solutions Pvt. Ltd.
Round: Series A
Funding Month: December 2023
Lead Investors: TDK Ventures and British International Investment (BII)
Additional Investors: ITI Growth Opportunities Fund, Navam Capital, Aureolis Ventures, 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific
Company Website: https://fasal.co/
Software Category: Precision Farming Solutions