Debt

Debt financing

Agritech startup WayCool raises Rs.50-Cr from Stride Ventures

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Chennai-based agritech startup WayCool has raised INR 50 crore in debt from Delhi-based venture debt firm Stride Ventures. WayCool plans to use funds to make tech-related expansions. Founded in 2015 by Karthik Jayaraman and Sanjay Dasari, WayCool facilitates retail outlets in getting fresh farm-sourced fruits, vegetables and dairy products. It also offers products that ensure the smooth running of supply chains and minimise inefficiencies in managing food quality. Earlier this year, WayCool acquired the intellectual property (IP) of agritech GramworkX for USD 2 million.

From the Venture Intelligence PE-VC Deal Database: Between March 2017 and June 2022, WayCool had raised over USD 210 M from 57 Stars, IFC, FMO, GAWA Microfinance Fund, Lightrock India, Lightbox, FMO, IFMR Trust, OPIC, Caspian Advisors, Pivot Ventures, Lightsmith Group and Redwood Equity Partners (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)