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Source: cision | Published on: Thursday, 28 December 2023
SAN JOSE, Calif., Dec. 28, 2023 -- TDK Corporation (TSE: 6762) announced today that TDK Ventures, Inc. has invested in India's full-stack agriculture pioneer Fasal, in an INR 100cr round co-lead by British International Investments to foster its innovative full-stack horticulture optimization solution and bring it to market. Fasal's solution has already proven to improve crop yield and reduce operational costs at an affordable price to the individual farmer. This financing round provides further ammunition to Fasal in its mission to transform the Indian agriculture industry with its full-stack platform anchored on top of its patented IoT-crop intelligence technology and expand further to Southeast Asia markets.
Since the commercialization of its technology, Fasal has worked with horticulture farmers spanning more than 75,000+ acres growing crops like grapes, pomegranates, bananas, apples, chili, cardamom, etc. by enabling them to grow more and grow better with its patented IoT-crop intelligence technology. Fasal's farmers have reduced irrigation water consumption by 82.8 billion liters, pesticide reduction by 127,426 kgs, curbed GHG emissions by 54,965 MT, and have increased their yields and quality by up to 30% with the help of technology. Fasal has gone deeper into the value chain by building technology to predict the exact harvesting time, yield, and tentative quality and is utilizing this intelligence to bring this sustainably grown, traceable, and high-quality produce to the consumers via its B2B brand 'Fasal Fresh'.
The company highlights that its technology platform has a traceable supply of over half a billion USD worth of produce, connecting seamlessly with demand across various consumption markets in the supply chain, ensuring 10x more efficient procurement thereby reducing wastages significantly. This technology platform empowers the company to synchronize supply with the most appropriate demand directly at the farm gate before the harvest itself.
Nicolas Sauvage, President of TDK Ventures commented on the alignment, "Partnering with Fasal represents a perfect example of two organizations with the passion for enacting positive change coming together to do good in the world. The Fasal team has created something incredible that addresses the critical needs of the Indian agricultural market and does so in a way that's an equal-win for everyone. It's a pleasure to get to work with them and help in even a small way to accelerate their solution."
Shailendra Tiwari, Founder/CEO of Fasal, mentioned "We are delighted to welcome our new investors to the Fasal Family, with TDK Ventures and British International Investments (BII) co-leading this round. Their participation strongly validates the depth of innovation in our patented IoT-crop intelligence technology and its impact on making the horticulture value chain resilient to climate change and carbon-negative. We extend our gratitude to our existing investors for their unwavering faith and support as we reform the horticulture ecosystem. 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. We will provide our buyers with sustainably grown, high quality, and traceable horticulture produce by further diversifying and strengthening our B2B brand 'Fasal Fresh'.
In the race towards global food system resilience, we acknowledge our responsibility, and drawing confidence from our successful track record in India, we are excited to play a pivotal role in it."
Ananda Verma, Founder of Fasal, stated, "With this funding, we're on the brink of a technological revolution in horticulture. As the driving force behind our innovation, I perceive this as venturing into new frontiers, pushing the boundaries of what's possible in horticulture. These funds will amplify our exclusive farm IoT-Crop intelligence technology, reshaping the farming landscape. We envision a data driven behavioral change where each byte contributes to sculpting the future of agriculture. We're not just enhancing crops; we're orchestrating a symphony of innovation in the very roots of agriculture. From predicting optimal harvest times to establishing a sustainable, traceable supply chain, this investment propels us into a future where science, technology, and agriculture seamlessly intertwine. It's not just a financial boost; it's the catalyst for a technological metamorphosis that will redefine how we perceive, practice, and sustain horticulture in the digital age." "In addition, we would to thank our investors such as, British International Investment (BII), the United Kingdom's development finance institution and impact investor, TDK Ventures with contribution from ITI Growth Opportunities Fund, Navam Capital and Aureolis Ventures. The round also saw participation from all existing investors including 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific."
The essence of TDK's mission, both as a global corporation and TDK Ventures, is defined by progressing technology for the well-being of all people. Fasal represents an exemplary case of entrepreneurial vision that is doing just that. Investing and partnering with Fasal, TDK Ventures is committing to bring their entire network and expertise to the disposal of impact scaling Fasal technologies, and together making the world a better place.
To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at contact@tdk-ventures.com.
About TDK Corporation
TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately "Attracting Tomorrow." It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.
About TDK Ventures
TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company's vision is to propel the digital and energy transformations of segments such as next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.
About Fasal
Founded in 2018, Fasal is a precision horticulture pioneer that leverages AI, Crop-sciences, and IOT to provide farm-level, crop-specific & crop-stage-specific intelligence enabling resource optimization (water, pesticides, etc) and higher farm productivity while procuring the high quality, traceable produce for an end-to-end optimized value chain play.
At its core, Fasal's mission is to empower farmers by solving for guesswork in farming. The full stack offering doesn't stop at data analysis and imparting intelligence for growing better; it takes a step further. Under its B2B brand Fasal Fresh, it procures farm produce to secure the best market rates for farmers while optimizing the supply chain play. Fasal's overarching brand mantra is simple but impactful: "Grow More, Grow Better, and Sell Better." https://fasal.co/
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