WayCool Foods raises $117 m in Series D funding


As a part of the Sequence D spherical, Vecule raised $ 95 million in fairness and $ 22 million in debt. The corporate has raised $ 46 million up to now within the final three rounds.

Chennai-based agri-commerce start-up WayCool Meals has raised $ 117 million in a Sequence D spherical from new and current traders akin to LightRock, LightBox, FMO, Lightsmith, World Financial institution Group’s IFC, Redwood Fairness Companions and Gawa Capital.

WayCool will use the recent capital to speed up deep-tech automation in its quest to create the world’s most complete meals and agri platform. The corporate additionally plans to strengthen its footprint in West India and West Asia, the corporate mentioned in a press release.

As a part of the Sequence D spherical, Vecule raised $ 95 million in fairness and $ 22 million in debt. The corporate has raised $ 46 million up to now within the final three rounds.

Kartik Jayaram, CEO and co-founder, WayCool Meals, mentioned: “We have now raised a complete of $ 117 million as a part of our Class D mixture of fairness (80%) and debt (20%). We’re happy to convey to the board like-minded companions who perceive the nuances of this space and are dedicated not solely to our progress, however extra importantly to our trigger. Deployment of funds has already begun. Our first precedence in our quest to construct the world’s most complete meals and agriculture platform can be to deepen and broaden our expertise and automation. ”

WayCool has began constructing its next-generation expertise heart in Bengaluru, which is able to construct a tech platform and add layers of AI and analytics. The tech heart can even embrace labs for robotics, IoT and automation. WayCool additionally plans so as to add new meals classes to its platform and strengthen its non-public labels, particularly in value-added meals merchandise.

“We can even use the funds to deepen our footprint in our goal geographic areas by including 50 extra distribution factors over the subsequent 18 months. Lastly, we’ll spend money on making it Kiretsu Companies that convey complementary capabilities and are related to our function, “mentioned Jayaram.

WayCool has a large product vary throughout a number of channels and classes akin to Recent Merchandise, Staples and Dairy, serving greater than 1 million clients within the normal commerce, trendy commerce, e-commerce and meals service house. It caters to greater than 500 locations in South and West India.

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