Beyond Capital Ventures (BCV), an emerging markets venture capital firm has invested an undisclosed amount in an agritech startup Fasal, which completes deployment of BCV Fund II.
The funds will be used to expand its operations domestically and internationally and to diversify to new business streams including secondary processing of farm produce and Software as a Service (SaaS) intelligence.
Fasal is also backed by TDK Ventures, British International Investments, 3one4 Capital, Omnivore and other strategic investors.
“We are set to expand our footprint from 80,000 to 500,000 acres in the coming quarters, further unlocking value for our farmers through strategic partnerships. By integrating farm-level crop insurance and enhancing working capital underwriting, we aim to facilitate direct bank lending to farmers at competitive rates, driving financial empowerment at scale. Simultaneously, we remain committed to delivering responsibly grown, fully traceable, and premium-quality produce to consumers through organized channels under our B2B brand ‘Fasal Fresh’, while strategically advancing deeper into the value chain to maximize impact and growth opportunities,” said Shailendra Tiwari.
“By supporting Fasal’s mission to revolutionize horticulture farming with sustainable technology, BCV aims to actively contribute to a more productive and environmentally friendly future for India’s agricultural sector. We believe in Fasal’s commercial potential to address the commercial needs of horticulture farmers and bridge the broader food supply chain gap in and outside of India while driving positive environmental impact. This investment not only aligns perfectly with our thesis but also marks the completion of our Fund II portfolio, representing a significant milestone in our journey to support innovative, purpose-driven startups in emerging markets,” said Eva Yazhari, Managing Partner at Beyond Capital Ventures.
Founded in 2018 by Shailendra Tiwari (CEO) and Ananda Verma (CTO), Fasal is a full-stack platform for progressive horticulture crops providing real-time crop growing intelligence to Indian farmers to make data-driven decisions, thereby increasing the quality and quantity of farmers’ produce.
Fasal aims to disrupt this market by supplying a uniquely reliable and cost-effective IoT solution for precision farming, making it possible to optimize crop yields and quality while reducing input costs. Fasal’s platform features a network of patented IoT devices for real-time farm monitoring and a marketplace for convenient produce sales, allowing farmers to increase their income and reduce costs and wastages significantly.
Bengaluru-based startup claims to helped avoid ~55K MT of GHG emissions, save ~82B liters of water, and reduce ~150K kg of chemical usage.
Fasal currently supports more than 2,000 farmers across 80,000+ acres in India, covering more than 20 horticulture crops. Fasal’s success extends across 12 districts in India.
The use of Fasal IoT and early participation with Fasal Fresh (output linkage & sale) has increased revenue for farmers by a total of $6.3 million and enabled cost savings of $1.4 million, resulting in $7.7 million of economic value created for farming households.
