India-based precision agriculture platform Fasal has raised USD$4 million from investors to expand business in India and southeast Asia.
The company raised the funds in pre-Series A round led by 3one4 Capital with participation from 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 is a full-stack AI-powered IoT SaaS platform for horticulture sector. 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 F&V market linkages and parametric crop insurance.
To date, the startup claimed that it has helped save more than nine billion litres of water from irrigation, reduced pesticide expenditure by around 60 percent, and increased yields across 40,000+ acres of farmland.
Fasal will use the funds raised in this round to expand its business across India and southeast Asia, strengthen its full-stack services, and ramp up hiring for its sales and marketing, agronomy and technology teams.
Based out of Bangalore, Fasal was founded in 2018 by Shailendra Tiwari and Ananda Verma. Tiwari is a production engineering graduate from NIFT, and Verma studied computer science at IIIT Bengaluru.