Debt financing
B2B agri-tech platform Waycool raises $4.4 M led by Trifecta; to raise $13-M from Anicut
Chennai-based B2B (business-to-business) food and agritech platform Waycool has raised INR 38.2 crore (USD 4.4 million) led by Trifecta Capital. The round also saw participation from Alteria Capital and Stride Ventures.The company has raised funds through Series B optionally convertible redeemable preference shares (OCRPS). Of the total INR 38.2 crore, Trifecta invested about INR 21.2 crore, while Alteria Capital invested about INR 9.3 crore. The rest came from Stride Ventures.The company is to also raise INR 110 crore (approximately USD 13 million) in debt from Grand Anicut by issuing 1,100 non-convertible debentures (NCDs) priced at INR 1,00,000 each. The NCDs will have a coupon rate of 18% p.a. and a tenure of 18 months.Founded in 2015, Waycool buys fresh produce, including dairy products, from farmers and sells them to retailers and restaurants. It also runs private label brands and handles distribution for fast-moving consumer goods.
Between May 2017 and Oct 2024, WayCool had raised about USD 304.73 M from Lightrock India, Caspian Advisors, IFMR Trust, DFC, FMO, Lightbox, InnoVen Capital, GAWA Microfinance Fund, IFC, Lightsmith Group, Pivot Ventures, Redwood Equity Partners, 57 Stars, Stride Ventures, Trifecta Capital, Anicut Capital and others.
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