Bangladeshi agri-tech startup Fashol has successfully raised 10 Crore BDT ($1 million USD) in pre-seed funding from esteemed investors including SOSV, South Asia Tech Partners, as well as angel investors such as Ambareen Reza, Co-Founder and CEO of Foodpanda, and Zubair Siddiky, Co-Founder and Managing Director of Foodpanda. Fashol, founded in 2020 by Sakib Hossain and Mamunur Rashid, is a tech-enabled agri-startup that aims to revolutionize the agricultural supply chain by empowering farmers with direct access to markets and providing small retailers with last-mile delivery services.
With the infusion of funds, Fashol plans to further develop its technology to optimize the supply chain by leveraging data to minimize the gap between supply and demand. The startup aims to bring automation to the transactions between farmers and retailers, making the process seamless and efficient. Fashol Farmers Centers, which eliminate multiple layers of middlemen in the supply chain, provide farmers with direct market access and hassle-free transactions.
Fashol is at the forefront of the digital transformation in the agricultural industry, utilizing technology to solve long-standing supply chain problems for farmers and retailers. The recent investment will enable Fashol to continue its mission of empowering small farmers and retailers while bridging the gap between the supply and demand for agricultural products.