Agritech company- WayCool raised $25 Million

WayCool is a Chennai-based company that has raised $25 Million via equity with the investments led by 57 stars LLC.

This investment is a part of a $40 million round that the company- WayCool has raised from 57 Stars along with the participation from its existing investors, and the rest amount is released as a debt.

WayCool is planning to utilize the fresh funding capital in the ways like-

To deliver the best quality products including - staples, and dairy to consumers,
Creating a positive impact on food value chain players.

The company will now focus on the sustainable development of its products and creating an impactful investing strategy. The strategy will be designed in such a way that it will deliver compelling financial returns with meaningful social and environmental impact.

EXECUTIVE OPINION: -

Amit Chandra, Managing Director, 57 Stars LLC, said, “The Indian agricultural market’s structure separates farmers from end markets via many intermediaries. WayCool delivers efficiency for all stakeholders from soil to sale.”

“The Indian agricultural market’s fragmented structure separates farmers from end-markets through multiple intermediaries. WayCool delivers efficiencies for all stakeholders from soil to sale,” he added.

The Chief Financial Officer, Chinna Pardhasaradhi, WayCool, mentioned, "This investment illustrates the continuing confidence of mature global investors in fundamentally sound businesses delivering lasting impact.”

“We believe our investment in WayCool is highly impactful, generating significant positive social and environmental outcomes at scale and addressing massive challenges in the food supply chain, where an estimated 30 percent of food is wasted before it reaches the end consumer. This deal provides our investors with participation in India’s leading crop-tech company with the potential to outperform,” added Gene Pohren, Co-founder and Managing Director, 57 Stars LLC.

Tags : Agritech company- WayCool, StartupsDekho

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Agritech company- WayCool raised $25 Million

Tags : Agritech company- WayCool, StartupsDekho

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