Agritech WayCool Foods has raised $13 million in the second tranche of a Series D round with a participation of existing and external investors.
Founded in July 2015, WayCool aims to build the world’s largest food development and distribution services company and positively impact the lives of 500,000 farmers. With this goal, WayCool’s operation has spread across product sourcing, food processing, branding and marketing, last mile distribution, and farm inputs.
WayCool currently handles 350+ tonnes of food products per day, across 18,900 clients, and from a network of 50,000+ farmers in more than 50 regions in India. WayCool’s products include staples like rice, pulses, wheat flour, dairy, and value added products.
Last year, its Series C round was led by venture capital firm Lightbox and saw participation of Dutch development bank FMO and existing investor LGT Lightstone Aspada. The company partnered with InnoVen Capital to raise venture debt in that round.
WayCool Foods, which has also expanded its footprint in the Middle East, is also looking to strengthen its position there.
Vijay is an entrepreneurship evangelist & editor at Bizztor, With a aim to empower startup and try to provide them a platform from where they share their stories, collaborate & scale up their businesses. He also writes for Entrepreneur, Forbes, Yourstory and now, Bizztor.