Fasal, an agritech startup, has recently raised $12 million (Rs 100 crore) in Series A funding. The round was led by TDK Ventures and British International Investment (BII), with participation from the ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures. The existing investors also participated, which include Omnivore, 3one4 Capital, Wavemaker Partners, Getting Ventures, and The Yield Labs Asia Pacific.
Fasal is an agritech startup that helps farmers with precision farming with the help of data-backed intelligence. The company uses artificial intelligence (AI), crop sciences, and the Internet of Things (IoT) to guide farmers in data-driven smart farming. It also helps farmers sell their crops at the best prices through its B2B brand, Fasal Fresh.
The startup claims to have saved more than 82 billion liters of water, helped cut down more than 127 thousand kilograms of pesticides, and stopped more than 54 metric tons of greenhouse gases till now. The company also holds two different types of patents related to agricultural technology.
The new investment will be used by the company for further growth and expansion in the Indian market and to promote sustainable agricultural practices.
The company’s co-founders are Shailendra Tiwari and Ananda Verma, and it is headquartered in Bengaluru, Karnataka, India.