WayCool Raises $6.5 Million in Debt Funding to Scale Tech-Driven Food Supply Chain, Targets $693.72M by FY25
WayCool’s $256M AgriTech Surge
Imagine a world where fresh produce moves seamlessly from farm to table, where farmers earn fair wages quickly, and food waste is nearly eliminated. That’s the vision driving WayCool Foods, an Indian agritech company that’s revolutionizing the food supply chain with a blend of technology and heart. In January 2025, WayCool raised $6.5 million (Rs.54.6 crore) in debt capital from Stride Ventures, besides its tremendous $250.3 million equity raised over the years. With a total of $256.8 million in funding and a valuation of $750 million, WayCool is on a mission to transform India’s $350 billion food and agriculture market. By connecting 250,000 farmers to over 169,000 retailers across India and the Middle East, the company is targeting an ambitious $720 million (Rs.6,000 crore) in revenue by FY25, up from $292.4 million (Rs.2,500 crore) in FY24. This latest funding is a testament to WayCool’s role as a game-changer in addressing supply chain inefficiencies and empowering farmers.
A Vision Born in Chennai
Founded in 2015 by Karthik Jayaraman and Sanjay Dasari in Chennai, WayCool isn’t just another startup—it’s a movement. The company combines physical operations with cutting-edge technology, a “phygital” model powered by its tech arm, CENSA, which uses AI, robotics, and machine learning to streamline everything from farming to distribution. Operating across 850+ towns in South India, Maharashtra, and even the UAE, WayCool ensures transparency and efficiency at every step, from soil to sale. Its innovative approach has earned it prestigious recognition, like the 2023 Sustainable Organization Award and the CII SCALE Award for Best Tech-Enabled Agri Distribution. Posts on X echo this sentiment, with users raving about how WayCool is transforming farmer livelihoods and slashing food waste.
A Journey Fueled by Strategic Funding
WayCool’s growth story is built on a series of smart funding rounds, each paving the way for its bold vision. Here’s a look at its funding history (all figures in US dollars for clarity):
- Seed Round (2017): Raised $2.7 million from Aspada Investments to lay the foundation for its supply chain infrastructure.
- Series A (2018): Secured $7.8 million, led by Lightbox, to expand operations and boost its tech capabilities.
- Series B (2019): Raised $32 million, led by Lightbox and FMO, to expand its farmer network and retail reach.
- Series C (2020): Received another $32 million, led by LightRock, for geographic growth and technological innovations.
- Series D (2022): Received a huge $117 million, with LightRock, Lightbox, and FMO taking the lead, backed by investors such as 57 Stars, IFC, Redwood Equity, and Gawa Capital, to support acquisitions and expand operations.
- Debt Funding (January 2025): Raised $6.5 million from Stride Ventures to build AI-powered tools and enter new geographies.
It has driven WayCool’s success in developing a strong ecosystem, linking farmers, wholesalers, and retailers with unparalleled efficiency.
Making a Real Impact
WayCool’s demand-driven supply chain serves over 100,000 clients, including wholesalers, food processors, and retailers, across 850+ towns. Its 45,000+ square feet of automated facilities process over 2,000 tons of fresh produce, staples, dairy, and 350+ private-label products daily under brands like Madhuram, Kitchenji, SunnyBee, and AllFresh (think apples, citrus, and stone fruits available nationwide). Through its Outgrow program, WayCool supports 250,000+ farmers with advisory services from agri-doctors, delivered via an award-winning app. This has boosted farmer incomes by 20% through direct sourcing and digital payments within 3–5 days—a lifeline for farmers who often face delayed payments.
At the heart of WayCool’s success is its CENSA platform, which uses AI, robotics, and machine learning to achieve an impressive 85% demand forecasting accuracy and a 98% fill rate. This tech prowess has slashed food losses to under 2%, a remarkable feat compared to India’s average 15% post-harvest loss (FAO, 2023). Strategic acquisitions like SV Agri (focused on potato supply chains) and GramworkX (agritech IP) have further strengthened WayCool’s capabilities. Its Dubai office caters to demand for 23+ produce varieties in the Middle East, marking its growing global presence.
In FY24, WayCool clocked $292.4 million (Rs.2,500 crore) in revenue and is on track to hit $720 million (Rs.6,000 crore) in FY25, boasting a 50% compound annual growth rate. The company aims to break even by Q4 FY24, thanks to its vertically integrated supply chain and tech-driven efficiencies.
What’s Next with the $6.5 Million?
The $6.5 million debt funding from Stride Ventures is set to supercharge WayCool’s growth. Here’s how the company plans to use it:
- Smarter AI Forecasting: Enhancing its 85% accurate demand forecasting to optimize inventory and further reduce waste.
- Geographic Expansion: Scaling into Karnataka, Andhra Pradesh, and more Middle Eastern markets, with a goal to reach 1,000 towns.
- Cold-Chain Upgrades: Strengthening infrastructure to keep produce fresh across the supply chain.
- Sustainability Push: Investing in climate-resilient operations and decarbonized distribution to meet its ESG goals.
Karthik Jayaraman, WayCool’s Co-Founder and CEO, summed it up: “We’re reimagining the food economy by aligning supply with demand. This funding strengthens our tech and farmer network, letting us scale sustainably.” Apoorva Sharma from Stride Ventures added, “WayCool’s tech-led approach is a blueprint for global agritech, positioning them to dominate India’s $350 billion food market.”
Why WayCool Stands Out
WayCool’s innovative model has earned it accolades like being named a 2023 ASK Private Wealth Hurun India Future Unicorn. Its focus on sustainability—through reduced food waste and decarbonized operations—sets it apart in a crowded market. Unlike competitors like Ninjacart or DeHaat, WayCool’s keiretsu model fosters collaborative partnerships across the value chain, creating a win-win for farmers, retailers, and consumers.
With plans to expand to 1,000 towns and deepen its global footprint, WayCool is redefining food security and profitability. In India, where supply chain inefficiencies cost $14 billion annually (FAO, 2023), WayCool’s impact is profound. By cutting food waste to under 2% and boosting farmer incomes by 20%, it’s creating real change. Brands like SunnyBee and AllFresh are household names in South India, and its Middle East expansion signals global potential.
A Vision for the Future
WayCool isn’t just about moving produce—it’s about building a better food ecosystem. Its technology tackles critical challenges, from post-harvest losses to farmer financial inclusion. By empowering 250,000 farmers and serving millions of consumers, WayCool is setting a global standard for agritech innovation. With $6.5 million in fresh funding and a clear vision, WayCool is poised to lead India’s $350 billion food market, proving that technology, paired with purpose, can transform lives.
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