The company will use the funds to expand their business across India and Southeast Asia, strengthen their full-stack services, and ramp up hiring for sales and marketing, agronomy, and technology teams.
Other investors in this round include Genting Ventures (Malaysia), The Yield Lab Asia-Pacific, Antares Investments, and Sandeep Singhal of Nexus.
Founded in 2018 by Shailendra Tiwari and Ananda Verma, Fasal is a full-stack AI-powered IoT SaaS platform for 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 fruits and vegetable market linkages and parametric crop insurance.
According to the company, till date it has helped save more than 9 billion litres of water from irrigation, reduced pesticide expenditure by around 60%, and increased yields across 40,000+ acres of farmland.
As government policies are evolving to support more robust and open supply chains, there has never been a bigger incentive for horticulture farmers to grow more and grow better. Fasal’s full-stack offering will fuel a rapid transition of Indian horticulture farming from gut-based legacy operations into knowledge-led profitable businesses,” said Ananda Verma, cofounder, Fasal.
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“Technology interventions are key to overcoming the plateau in agricultural productivity. Fasal’s precision agriculture solution is perfectly packaged for the needs of horticulture farmers, where advisory is both necessary and welcome,” said Anurag Ramdasan, Partner at 3one4.
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