M&A

M&A

Agri-tech platform Innoterra acquires Fasal’s fresh produce distribution biz

Business Line   Fasal  

Swiss-Indian food and technology platform Innoterra has acquired the fresh produce distribution business of the Bengaluru-based precision agriculture and digital farming company Fasal .This acquisition is expected to strengthen Innoterra’s Farmlink platform, giving access to Fasal’s 85,000-acre farmer network, which is expected to enhance its supply chain, market reach, sourcing capabilities and expand its footprint in urban consuming markets such as Bengaluru and Chandigarh.Founded in 2018 by Shailendra Tiwari and Ananda Verma, Fasal is a platform for horticulture crops that captures real-time data on conditions from on-farm sensors to deliver farm-specific, crop-specific and crop-stage specific actionable recommendations to farmers via mobile phones.

Between March 2019 and Dec 2024, Fasal had attracted about USD 23 M from Artesian Venture Partners, Mistletoe, Antares Ventures, Mount Parker Ventures, Omnivore Partners, Wavemaker Partners, 3ONE4 Capital, and Others.For FY24, Fasal had reported about INR 34.12 Cr in Operating Income and about INR Cr 34.03 in Net Loss.