Funding Alert

Fasal secures Rs 100 crore funding from TDK Ventures, British International Investment

• ByStartupStory     |    December 22, 2023

Fasal, an agritech company backed by Omnivore, recently secured Rs 100 crore in a Series A funding round led by TDK Ventures and British International Investment (BII) on December 22. This funding arrives amid a noticeable surge in early-stage funding for startups.

This milestone follows Fasal’s co-founder, Shailendra Tiwari’s indication in February to Moneycontrol about their pursuit of new funding to bolster their output business endeavors.

In that same month, Moneycontrol highlighted Fasal’s expansion into the farming output sector, branded as Fasal Fresh. This initiative aims to bring precision-farmed produce directly to consumers through various channels like retailers, e-commerce platforms, wholesalers, and exporters.

The recent investment in Fasal aligns with the broader trend in the agritech sector. Just days prior, on December 13, Moneycontrol reported a significant late-stage funding of $46 million for another agritech player, Vegrow, led by GIC, Singapore’s sovereign wealth fund.

In an official statement, Fasal outlined the utilization of the funds, intending to enhance and diversify its B2B brand, Fasal Fresh, and expand its operations across India and Southeast Asia. Moreover, the funding will fuel advanced research and development in their proprietary farm IoT-crop intelligence technology, aiming to develop a carbon-negative horticulture value chain.

Shedding light on their plans, CEO Shailendra Tiwari stated, “…With this capital infusion, we plan to expand Fasal’s presence from 75,000 acres to 500,000 acres and enable our technology to deliver more to our farmers by providing them access to sustainable crop inputs, farm-level crop insurance, and working capital at lower interest rates.”

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