fasal funding: Agritech startup Fasal raises $12 million in funding led by TDK Ventures, British International Investment

Other investors participating in the round included ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures. Existing investors 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific also participated.

The Bengaluru-headquartered startup works with horticulture farmers by providing them patented Internet-of-Things-crop intelligence technology over 75,000 acres of land. This is used for growing grapes, pomegranates, bananas, apples, chili, and cardamom.

Fasal claims farmers on its network have reduced irrigation water consumption by 82.8 billion litres, pesticide reduction by 127,426 kilograms, curbed greenhouse gas emissions by 54,965 metric tons, and increased yields and quality by up to 30%.

“With this capital infusion, we plan to expand Fasal’s presence from 75,000 acres to 500,000 acres and enable our technology to deliver more to the farmers by providing them access to sustainable crop inputs, farm-level crop insurance, and working capital at lower interest rates,” said Shailendra Tiwari, founder, and chief executive, Fasal.

Fasal said it has built capabilities to go deeper into the supply chain with ‘Fasal Fresh,’ its business-to-business marketplace which connects farmers to consumers through retailers and wholesalers.

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Siddharth Mehta, investment director, TDK Ventures, said, “Meeting the horticulture farmers and learning about their core problems convinced me that Fasal’s full-stack approach of combining sensors and technology with the marketplace offers a strong value proposition of improving farmer earnings and a strong sustainable impact.” TDK recently deployed funds into energy-tech startup Exponent Energy.

Other investors participating in the round included ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures. Existing investors 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific also participated.

The Bengaluru-headquartered startup works with horticulture farmers by providing them patented Internet-of-Things-crop intelligence technology over 75,000 acres of land. This is used for growing grapes, pomegranates, bananas, apples, chili, and cardamom.

Fasal claims farmers on its network have reduced irrigation water consumption by 82.8 billion litres, pesticide reduction by 127,426 kilograms, curbed greenhouse gas emissions by 54,965 metric tons, and increased yields and quality by up to 30%.

“With this capital infusion, we plan to expand Fasal’s presence from 75,000 acres to 500,000 acres and enable our technology to deliver more to the farmers by providing them access to sustainable crop inputs, farm-level crop insurance, and working capital at lower interest rates,” said Shailendra Tiwari, founder, and chief executive, Fasal.

Fasal said it has built capabilities to go deeper into the supply chain with ‘Fasal Fresh,’ its business-to-business marketplace which connects farmers to consumers through retailers and wholesalers.

Discover the stories of your interest

Siddharth Mehta, investment director, TDK Ventures, said, “Meeting the horticulture farmers and learning about their core problems convinced me that Fasal’s full-stack approach of combining sensors and technology with the marketplace offers a strong value proposition of improving farmer earnings and a strong sustainable impact.” TDK recently deployed funds into energy-tech startup Exponent Energy.