To date, the startup claimed that it has helped save more than 9 billion litres of water from irrigation, reduced pesticide expenditure by around 60 per cent, and increased yields across 40,000+ acres of farmland. The platform is also working on a range of new services including F&V market linkages and parametric crop insurance. Using on-farm sensors and scientific algorithms, Fasal delivers farm and crop-specific actionable insights to farmers in vernacular languages. Fasal is a full-stack AI-powered IoT SaaS platform for horticulture sector. Other investors in this round include Genting Ventures (Malaysia), The Yield Lab Asia-Pacific, Antares Investments, and Sandeep Singhal of Nexus. The company raised this fund in pre-Series A round led by 3one4 Capital with participation from existing investors Omnivore and Wavemaker Partners, Fasal said in a statement. shows.Precision agriculture platform Fasal on Monday said it has raised USD 4 million from investors to expand business in India and South East Asia. Southeast Asia’s booming internet economy is set to double to $363 billion by 2025, research from Google, Temasek Holdings and Bain & Co. Southeast Asia, a region with about 650 million people, is seeing rising interest from investors scouting for companies that can capture the surge of online activity amid the pandemic. Melissa Ho, who previously served as vice president of investments, has been promoted to lead the firm’s investment team. Wavemaker’s portfolio companies include laser communications startup Transcelestial, agriculture technology startup EFishery and business-to-business marketplace GudangAda.
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So far, the firm has had 13 exits, including Singapore software startup TradeGecko, according to its website.
About 150 of these are working on sustainable technologies, enterprise-related ventures or scientific and engineering challenges. One of Singapore’s earliest venture firms, Wavemaker has invested in over 170 companies since 2012. Read more: Singapore’s Wavemaker Closes Venture Fund at $111 Million The fourth fund will bring its total assets under management to $300 million. It also drew in institutional investors, university endowment funds, funds of funds, family offices, corporates and high net worth individuals, it said. and Vulcan Capital participating, the Singapore-based company said in a statement on Tuesday. The firm exceeded its initial target of $120 million, with existing backers Temasek Holdings Pte, Pavilion Capital, International Finance Corp. Russia Bans Export of 200 Products After Suffering Sanctions Hit Ukraine Update: Russia Targeting Airfields in Western Ukraine Russia Devises Plan to Seize Firms Abandoned in Foreigner Exodus Ukraine Update: Biden Warns Russia Against Chemical Weapons Use (Bloomberg) - Wavemaker Partners LLC, an early-stage venture capital firm, closed its fourth fund at $136 million to back startups in Southeast Asia’s fast-growing technology industry.
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