Agri-tech startup Fashol gets $1 million pre-seed investment

Fashol, an agri-tech startup, today announced that it has raised $1 million in pre-seed funding as it looks to build the technology to optimise the supply chain and connect farmers to market.

It secured the funding from SOSV, South Asia Tech Partners, and angel investors such as Foodpanda Co-Founder and CEO Ambareen Reza and Foodpanda Co-Founder and Managing Director Zubair Siddiky, according to a press release.

Fashol is committed to using recent investments to leverage data to minimise the supply and demand gap and bringing automation for seamless transactions from farmers to retailers, it said.

It also has the plan to build "Fashol Farmers Centres" and "Micro Distribution Centres" as well.

Fashol was founded in 2020 by Sakib Hossain and Mamunur Rashid, who bring a combined of 18 years of experience in multinational corporations and startups.