The Business-to-Business (B2B) agritech company, WayCool Foods & Products Pvt. Ltd invests an unannounced Sum in Allfresh.
The investment made by WayCool as a strategy to create keiretsu in the global food Supply chain.
With this investment, the Agritech Company will have a grip over Allfresh’s Apple and Orange farmers’ pool based in Himachal Pradesh, Punjab, Maharashtra and Madhya Pradesh.
The yield from Allfresh’s farmers will be connecting directly to Waycool’s wide network of 1, 25,000 customers.
The Allfresh Supply management Pvt. Ltd. plans to utilise the funds generated from Waycool Foods to work on the capabilities in Post-harvest technology.
The company made this investment in few months after securing 40 Million US dollars led by 57 Stars in strategic Funding round.
The company aims to work more on the Post-harvest technology to increase the Shelf life of the product and enhance its quality to overcome the losses.
Besides, the Company also have advantage to access the network of Waycool Foods from India and United Arab Emirates.
“I am delighted to be on board with WayCool. AllFresh and WayCool pursue the common objective of formalising the scattered fruit and vegetable industry in India. We look forward to extending our acquired expertise in efficient procurement and marketing of Indian Apples and Oranges to a wider basket of premium fruits along with WayCool.” The founder of Allfresh, Naresh Jawa Stated.
Besides this, WayCool foods have recently invested in SV Agri.
The Company operates as Potato Supply chain and Solution. The company claims that it has grown 2.5 times more than before.
This is due to the investment made by WayCool foods in the company.
About the Company
WayCool Foods was set up in the year 2015 by Karthik Jayaraman, Sanjay Dasari, Vignesh Kumar Manogaran and Sendhil Kumar Natarajan…
The company works to distribute freshly produced products to national and International client.
The Agritech start-up work with more than 150,000 farmers for obtaining the fresh produce.
The company’s capital investment grew up to 329 Million US dollars in the year 2020, from 229 Million US dollars in 2019.
The capital investment is reported to increase up to 35 billion US dollars by the year 2025, as per Bain Report 2021.
The company generated revenue of 382.3 Cr. INR and witnessed losses of 148.69 Cr. INR in the FY 2021.
- Fantasy Akhada Bags Funds of $11M from Fresh Funding Round - March 10, 2023
- Pristine Care Pays Off more than FortyEmployees from their Posts - March 9, 2023
- Mintifi Secures Funds of $110M as a Part of its Series D Funding Round - March 8, 2023