Fasal Raises $4 Million In Pre-Series A Round
The funds will be used to expand its business, strengthen full-stack services and ramp up hiring
Fasal, a precision agriculture platform, announced it has raised $4 million in pre-Series A round. It was led by 3one4 Capital with participation from existing investors Omnivore and Wavemaker Partners. Other investors included 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 progressive horticulture. Using on-farm sensors and scientific algorithms, the platform 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, said a statement.
"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 to knowledge-led profitable businesses," said Ananda Verma and Shailendra Tiwari, co-founders of Fasal, in the statement.
Fasal will use the funds to expand its business across India, southeast Asia, strengthen full-stack services, ramp up hiring for sales, marketing, agronomy and technical teams.
"Coming from farming families, the co-founders knew the exact problems of farmers. We are excited to see what the team can do in Southeast Asia, where there's an obvious need for tech solutions in the agriculture sector," said Gavin Lee, general partner, Wavemaker Partners in southeast Asia.