Full-stack horticulture startup Fasal raises 100 cr in Series A round

Complete horticulture startup Fasal has raised ₹100 billion in a Series A funding round led by TDK Ventures and British International Investment (BII), a UK-based development finance institution and impact investor, with contributions from ITI’s Growth Opportunities Fund, Navam Capital and Aureolis Ventures.  All existing investors including 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures and The Yield Labs Asia Pacific also participated in the round.  According to the startup, the funding round gives the company additional ammunition to transform the $228 billion Indian horticulture industry with its end-to-end platform anchored on  its own Internet of Things (IoT) agricultural intelligence  and expand its operations. operations to Southeast Asia. 

 After commercializing the  technology, it claims to have worked with horticulturists on more than 75,000 hectares growing crops like grapes, pomegranates, bananas, apples, chilies, cardamom, etc., enabling them to grow  and grow better with the help of proprietary IoT. – agricultural intelligence technology. In addition, it has gone deeper into the value chain by building technology to accurately predict harvest time, yield and initial quality, and uses this intelligence to bring these sustainably grown, traceable and quality products to consumers through its B2B brand.  Fasal Founder/CEO Shailendra Tiwari said, “We are delighted to welcome our new investors to the Fasal family, with TDK Ventures and British International Investments (BII) leading this round. Their participation strongly reinforces the depth of our own IoT innovation in harvesting technology and its impact on  the horticultural value chain, to make climate change sustainable and carbon negative.   

With this capital injection, we plan to expand our presence from 75,000 acres to 500,000 acres and enable technology to produce more for our farmers by providing them with sustainable crops, crop insurance and working capital at lower interest rates.  “Food empowers our unique farm IoT-Crop smart technology and shapes the agricultural landscape. We are designing a data-driven behavior change where every byte has an impact on shaping the future of agriculture”, explains Ananda Verma, founder of Fasal, Founded in 2018, Fasal is a pioneer in precision horticulture  that uses artificial intelligence, agrosciences and IOT to deliver farm-level, crop-specific and crop-phase intelligence to optimize resources (water, pesticides and more) and improve status. productivity while providing high quality and traceable products in a fully optimized value chain.  Srini Nagarajan, CEO and Head of Asia at BII, emphasized the key role of climate-smart solutions in the ability of horticultural producers to combat the adverse effects of climate change, adding  “Providing climate finance is an important part of our strategy in India and  Southeast Asia. By supporting the company’s development of  climate-smart solutions, we will  reach more smallholders”.

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