Fasal, a Bengaluru, India-based precision agriculture platform, raised a $4 million pre-Series A round from 3one4 Capital, along with existing investors Omnivore and Wavemaker Partners.
Other investors in this round include Genting Ventures (Malaysia), The Yield Lab Asia-Pacific, Antares Investments, and Sandeep Singhal of Nexus.
Fasal will use the funds raised in this round to expand their business across India and Southeast Asia, strengthen their full-stack services, and ramp up hiring for their sales and marketing, agronomy, and technology teams.
Company: Wolkus Technology Solutions Private Limited
Round: pre-Series A
Funding Month: November 2021
Lead Investors: 3one4 Capital
Additional Investors: Omnivore, Wavemaker Partners, Genting Ventures, The Yield Lab Asia-Pacific, Antares Investments, and Sandeep Singhal of Nexus
Company Website: https://fasal.co/
Software Category: AI-powered IoT SaaS platform
About the Company: Founded in 2018 by Shailendra Tiwari and Ananda Verma, Fasal is a full-stack artificial intelligence-powered IoT SaaS platform for progressive horticulture. Using on-farm sensors and scientific algorithms, Fasal delivers farm and crop-specific actionable insights to farmers in vernacular languages. The platform is also working on a range of new services including fruit and vegetable market linkages and parametric crop insurance. The start-up, founded in 2018, has helped save more than 9 billion liters of water from irrigation, reduced pesticide expenditure by about 60 percent, and increased yields across 40,000+ acres of farmland, to date.