Fasal, a firm that provides technology services for farmers in India, recently raised a total of INR 1 billion (USD 12 million) from UK-based TDK Ventures; the UK government’s British International Investment (BII); and three India-based firms: ITI Growth Opportunities Fund, Navam Capital and Aureolis Ventures. The platform aids farmers in procuring seeds and fertilizer, adopting “precision farming” techniques, and selling crops. The firm’s business-to-business brand, Fasal Fresh, delivers wholesalers “sustainably grown, fully traceable” fruit and other produce from farmers working a total of 75,000 acres. Farmers using the platform reportedly have enhanced their yields by as much as 30% while reducing water usage, pesticide usage and emissions. TDK and BII led the equity funding package, which was Fasal's Series A round.
Author: Rohan Kumar Agarwal
