Total amount raised
$17.9 Million
Latest funding date
12/1/2024
Location
Fasal has successfully raised funds through 8 funding rounds, with the latest being a "Venture - Series Unknown" round involving 5 investors. The platform specializes in smart irrigation and agriculture automation, offering products like the Fasal Hub and Fasal Jet to optimize farm management.
Keep reading to explore the intricacies of Fasal's fundraising journey and the investors backing this innovative platform.
What Is Fasal?
Fasal, based in Bengaluru, Karnataka, India, is an AI-powered IoT-SaaS platform specializing in horticulture. The company operates in the agriculture, AgTech, artificial intelligence, horticulture, and machine learning industries. With a workforce of 101-250 employees, Fasal focuses on smart irrigation and agriculture automation.
Fasal's innovative products, such as the Fasal Hub and Fasal Jet, help farmers optimize irrigation and fertigation processes through mobile control. The company emphasizes sustainability, aiming to save water and reduce chemical usage while empowering farmers with data-driven decisions.
How Much Funding Has Fasal Raised?
- Seed Round
- Amount Raised: USD 200,000
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial IoT-crop intelligence technology and establish 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: USD 72,624
- Date: March 2019
- Lead Investors: Mistletoe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain non-equity support for business operations and technology enhancement.
- Seed Round
- Amount Raised: USD 1,600,000
- Date: October 2019
- Lead Investors: Omnivore, Wavemaker Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance IoT-crop intelligence technology.
- Grant
- Amount Raised: USD 25,000
- Date: January 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project initiatives and technology advancements.
- Seed Round
- Amount Raised: USD 4,000,000
- Date: November 2021
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop IoT-crop intelligence technology.
- Series A
- Amount Raised: USD 12,000,000
- Date: December 2023
- Lead Investors: British International Investment, TDK Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate R&D, expand market reach, and develop advanced data products.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: December 2024
- Lead Investors: Beyond Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhancing technological capabilities.
Fasal has raised a total of USD 17,897,624. The current valuation is 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 startups that have the potential to scale rapidly.
- Investment Focus Areas: Technology, SaaS, consumer products
- Notable Investments: Fasal, Licious, Darwinbox
- British International Investment (BII)
- Details: BII is the UK's development finance institution, investing in businesses and projects that drive economic development and create jobs in emerging markets. They focus on sustainable and impactful investments.
- Investment Focus Areas: Infrastructure, financial services, agribusiness
- Notable Investments: Renewable energy projects, financial institutions, agribusinesses in developing countries
- TDK Ventures
- Details: TDK Ventures is the venture capital arm of TDK Corporation, focusing on early-stage startups that align with TDK's core business areas. They invest in innovative technologies and sustainability-focused companies.
- Investment Focus Areas: Energy, electronics, materials science
- Notable Investments: Energy storage startups, sensor technology companies, advanced materials firms
- Omnivore
- Details: Omnivore is a venture capital firm that invests in startups working in the agritech sector. They aim to transform food systems and improve the rural economy through technology.
- Investment Focus Areas: Agritech, food systems, rural economy
- Notable Investments: DeHaat, Stellapps, Fasal
- Wavemaker Partners
- Details: Wavemaker Partners is a venture capital firm that invests in early-stage technology companies. They have a strong presence in Southeast Asia and the United States.
- Investment Focus Areas: Technology, SaaS, consumer products
- Notable Investments: Zilingo, Moka, Fasal
What's Next for Fasal?
Fasal is poised to capitalize on significant opportunities, including expanding its IoT-crop intelligence technology to cover 500,000 acres and diversifying its B2B brand, Fasal Fresh. The company aims to enhance its technological capabilities and develop advanced data products, fostering a carbon-negative agriculture value chain. These initiatives align with industry trends such as the increasing use of AI and IoT in precision farming and the growing focus on sustainability.
Future fundraising opportunities appear promising, given the successful Series A round and the involvement of prominent investors. As Fasal demonstrates growth and achieves its milestones, it is likely to attract further investments to support its ambitious expansion plans. However, the company may face challenges in scaling operations, maintaining technology quality, and navigating regulatory environments in new markets.
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