Beyond Capital Ventures (BCV), an emerging markets venture capital firm, is pleased to announce its recent investment in Fasal, which completes deployment of BCV Fund II.
BENGALURU, India, Dec. 11, 2024 /PRNewswire-PRWeb/ -- Beyond Capital Ventures (BCV), an emerging markets venture capital firm, is pleased to announce its recent investment in Fasal, which completes deployment of BCV Fund II. Fasal is a full-stack platform for progressive horticulture crops providing real-time crop growing intelligence to Indian farmers to make data-driven decisions, and thereby increase the quality and quantity of farmers' produce. BCV's investment will support Fasal to expand operations domestically and internationally and to diversify to new business streams including secondary processing of farm produce and Software as a Service (SaaS) intelligence. BCV joins strong investors including TDK Ventures, British International Investments, 3one4 Capital, Omnivore and other strategic investors attuned to the future of India's Agricultural technology sector.
With India's population projected to reach 1.5 billion by 2030, the country faces a pressing need to increase agricultural productivity while reducing resource usage using a scientific approach. Horticulture alone is estimated to contribute 30% to India's agriculture Gross Value Added. Farmers, however, lack access to advanced farming techniques and reliable market linkages. 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.
Founded in 2018 and headquartered in Bengaluru, India, Fasal has helped avoid ~55K MT of GHG emissions, save ~82B liters of water, and reduce ~150K kg of chemical usage. Today, the company already 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, where the business has thrived with a rapidly expanding network of IoT devices and a strong preference from farmers for Fasal's technology, which has surpassed others in durability and reliability. Use of Fasal IoT and early participation with the Fasal Fresh (output linkage & sale) has increased revenue for farmers by a total of USD 6.3 million and enabled cost savings of 1.4 million, resulting in 7.7 million of economic value created for farming households.
Co-founders Shailendra Tiwari (CEO) and Ananda Verma (CTO) bring complementary experiences in agricultural operations and technology development. "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," said Eva Yazhari, Managing Partner at Beyond Capital Ventures. "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."
ABOUT FASAL
Fasal is India's first full-stack platform for progressive horticulture crops anchored on a patented IoT-SaaS platform providing farm-level, crop-specific and crop-stage specific actionable intelligence to progressive horticulture farmers. Founded in 2018, it has grown to be best in class for agricultural technology and performance, with more than 160 employees and a presence across 12 districts in India and Southeast Asia. Through extensive research and development, Fasal has deployed over 6,000 IoT devices. By empowering farmers with data-driven insights and reliable market access, Fasal is paving the way for more productive, sustainable, and profitable horticulture farming.
Visit fasal.co for more information.
ABOUT BEYOND CAPITAL VENTURES
Beyond Capital Ventures is an emerging markets venture capital firm, building a diversified, dynamic, and de-risked portfolio with a strong focus on driving performance. The firm invests in the next wave of innovations that address the growing needs of more than one billion consumers in India and East Africa. Beyond Capital Ventures backs conscious leaders building businesses to address growing demand in essential sectors, primarily in healthcare, financial services, and climate (agriculture, mobility, climate data).. The Fund also pioneers an Equitable Venture structure that provides founders in the portfolio with a profit share in the General Partner carry pool upon meeting predetermined performance milestones.
Visit beyondcapitalventures.com for more information.
Media Contact
Isabelle Schmidt, Beyond Capital Ventures, 1 9789444887, [email protected], beyondcapitalventures.com
SOURCE Beyond Capital Ventures
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