Total amount raised
$411.3 Millions
Latest funding date
1/1/2025
Location
WayCool has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company is a key player in the food and agritech sector, offering a range of services from supply chain management to branded food products.
Keep reading to explore the intricacies of WayCool's fundraising journey and the investors backing this innovative platform.
What Is WayCool?
WayCool, founded in July 2015 by Karthik Jayaraman and Sanjay Dasari, is a leading food and agritech company based in Chennai, Tamil Nadu, India. The company focuses on reimagining the food supply chain by shifting from a supply-led to a demand-led ecosystem.
WayCool connects farmers' output to retailers through a single technology platform, offering products and services for various stakeholders, including retailers, distributors, wholesalers, food processing institutions, and farmers. Their services include branded staples, fresh produce, dairy products, private label packaging, high-volume trading, logistics and distribution solutions, supply chain tech solutions, and agri services.
With a workforce of 1001-5000 employees, WayCool leverages innovative quality management and food safety technology to increase farmers' income and improve logistics and distribution services. The company supplies over 2,000 tons of food daily to a network of more than 169,000 retailers.
How Much Funding Has WayCool Raised?
- Venture Round
- Amount Raised: ₹382M (approximately $4.4M)
- Date: January 2025
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance supply chain infrastructure and invest in technology.
- Debt Financing
- Amount Raised: ₹1B (approximately $12M)
- Date: October 2024
- Lead Investors: Anicut Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strengthen financial stability and support expansion.
- Series D
- Amount Raised: $1.7M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance product offerings.
- Convertible Note
- Amount Raised: $30M
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Fund new projects and improve technology.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: August 2022
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support operational costs and expansion.
- Venture Round
- Amount Raised: ₹950M (approximately $11.5M)
- Date: August 2022
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand market reach and enhance technology.
- Debt Financing
- Amount Raised: ₹500M (approximately $6M)
- Date: July 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Improve logistics and distribution capabilities.
- Venture Round
- Amount Raised: $25M
- Date: June 2022
- Lead Investors: 57 Stars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance product offerings.
- Debt Financing
- Amount Raised: $15M
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support operational costs and expansion.
- Series D
- Amount Raised: $95M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance product offerings.
Total amount raised: $200.6M. Current valuation: Not publicly disclosed.
Key Investors
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a leading venture debt firm that provides financing solutions to high-growth startups. They have been instrumental in supporting companies through various stages of growth.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: WayCool, BigBasket, UrbanClap.
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that supports startups with flexible financing options. They focus on providing growth capital to innovative companies.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: WayCool, Dunzo, Lendingkart.
- Stride Ventures
- Details: Stride Ventures is a venture debt firm that offers customized debt solutions to startups. They aim to bridge the gap between equity and traditional debt financing.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: WayCool, MobiKwik, SUGAR Cosmetics.
- 57 Stars
- Details: 57 Stars is a global investment firm that focuses on private equity and venture capital. They invest in high-growth companies across various sectors.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: WayCool, Byju's, Swiggy.
- Anicut Capital
- Details: Anicut Capital is a venture debt and equity firm that provides growth capital to emerging companies. They focus on supporting businesses with strong growth potential.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: WayCool, Bira 91, Wow! Momo.
What's Next for WayCool?
WayCool is poised to capitalize on significant opportunities in the agritech sector. With plans to enhance supply chain infrastructure, expand its product portfolio, and invest in cutting-edge technology, the company is well-positioned to drive operational efficiency and sustainability. These initiatives align with industry trends emphasizing food security and reducing supply chain inefficiencies.
Future fundraising opportunities seem promising, given the company's ambitious growth plans and the increasing confidence in agritech startups. However, WayCool may face challenges such as managing complex supply chain enhancements and integrating new technologies. Balancing growth with sustainability initiatives will also be crucial as the company navigates market competition and regulatory hurdles.
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