PE Fund Investments
Agri-commerce co WayCool raises $117-M from LightRock, IFC, others
Chennai-based agri-commerce firm WayCool Foods has raised USD 117 million (about INR 864 crore) in its Series D funding round from LightRock, LightBox, FMO, Lightsmith, World Bank Group's- IFC, Redwood Equity Partners and Gawa Capital. The funds were raised in a combination of equity (80%) and debt (20%). The company will deploy the funds to deepen its footprint in target geographies, adding up to 50 more distribution points over the next 18 months. WayCool has begun building its next-gen technology center in Bengaluru, which will build out the tech platform and add layers of AI and analytics. WayCool plans to add new food categories into its platform, and strengthen its private label brands, particularly in value added food products. It caters to over 500 locations in southern and western India.
From the Venture Intelligence PE-VC Deal Database: Between Mar-17 and Dec-21, WayCool had raised about USD 85 million from InnoVen Capital, Lightbox, Lightrock India, FMO, GAWA Microfinance Fund, Caspian Advisors, IFMR Trust and Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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