Total amount raised
$17.9 Millions
Latest funding date
12/1/2024
Location
Fasal has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform leverages AI and IoT to provide real-time agronomic solutions for horticulture.
Keep reading to explore the intricacies of Fasal's fundraising journey and the investors backing this innovative platform.
What Is Fasal?
Fasal, founded on January 11, 2018, is an agritech startup based in Bengaluru, Karnataka, India. The company leverages AI and IoT to provide precision farming solutions for horticulture crops.
Founded by Ananda Verma, Dhaval Chaudhary, Shailendra Tiwari, Shivang Kar, and Vaibhav Singh Rajput, Fasal captures real-time data from on-farm sensors to deliver actionable recommendations to farmers.
With a team of 101-250 employees, Fasal offers services like microclimatic forecasts, disease and pest prediction, irrigation alerts, and farm management to help farmers optimize crop growth and manage resources efficiently.
How Much Funding Has Fasal Raised?
- Seed Round
- Amount Raised: $200K
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial technology and market presence.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Gastrotope
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and technology development.
- Non-Equity Assistance
- Amount Raised: $72.6K
- Date: March 2019
- Lead Investors: Mistletoe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain non-equity support for operational expansion.
- Seed Round
- Amount Raised: $1.6M
- Date: October 2019
- Lead Investors: Omnivore, Wavemaker Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving technology.
- Grant
- Amount Raised: $25K
- Date: January 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project development.
- Seed Round
- Amount Raised: $4M
- Date: November 2021
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate research and development.
- Series A
- Amount Raised: ₹1B (approximately $12M)
- Date: December 2023
- Lead Investors: British International Investment, TDK Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business and develop advanced data products.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2024
- Lead Investors: Beyond Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To diversify into new business streams.
Total Amount Raised: $17.9M (approx.) Current Valuation: Not publicly disclosed
Key Investors
- 3one4 Capital
- Details: 3one4 Capital is an early-stage venture capital firm based in India. They focus on investing in technology-driven startups.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Licious, Darwinbox, Betterplace.
- British International Investment (BII)
- Details: BII is a development finance institution that invests in businesses and projects in emerging markets. They aim to support sustainable economic growth and development.
- Investment Focus Areas: Renewable energy, financial services, infrastructure.
- Notable Investments: Greenlight Planet, M-KOPA, d.light.
- TDK Ventures
- Details: TDK Ventures is the corporate venture capital arm of TDK Corporation. They invest in early-stage startups focusing on innovative technologies.
- Investment Focus Areas: Technology, energy solutions, sustainability.
- Notable Investments: Exponent Energy, Starship Technologies, GenCell.
- Omnivore
- Details: Omnivore is a venture capital firm that invests in startups developing breakthrough technologies for food, agriculture, and the rural economy. They are based in India.
- Investment Focus Areas: Agritech, food systems.
- Notable Investments: DeHaat, Stellapps, AgNext.
- Wavemaker Partners
- Details: Wavemaker Partners is an early-stage venture capital firm that invests in technology startups. They have a strong presence in Southeast Asia and the United States.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Moka, Zilingo, Coins.ph.
What's Next for Fasal?
Fasal's future is brimming with opportunities, driven by its recent Series A funding. The company plans to accelerate research and development in its proprietary farm IoT-crop intelligence technology, aiming to foster a carbon-negative agriculture value chain. Expansion into Southeast Asia and Africa, along with the diversification of its B2B brand, Fasal Fresh, presents significant growth potential.
With the agritech sector's increasing focus on precision farming and sustainability, Fasal is well-positioned to attract further investments. The successful Series A round suggests that future fundraising opportunities are likely as the company scales its operations and enhances its technological offerings.
However, challenges such as scaling operations to new regions, ensuring technology adapts to diverse farming conditions, and competing with other agritech firms remain. Navigating these hurdles will be crucial for Fasal as it continues its journey towards transforming the agricultural landscape.
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