WayCool Foods, a Chennai-headquartered agricultural technology start-up, has raised $32 million in its Series-C round of funding, which is a combination of equity and debt.
The round, led by Lightbox, also saw participation from FMO, the Dutch entrepreneurial development bank, as well as WayCool’s existing investor LGT Lightstone Aspada. The agritech firm has also partnered with InnoVen Capital to raise venture debt in this round.
WayCool Foods procures, processes and distributes a wide range of food products including fresh produce, staples and dairy products. It uses innovative technologies to scale up and operate complex supply chains.
The company will use the fresh funds to automate its supply chain and build the next layer of data analytics needed to boost supply chain efficiency. It will also develop and expand its range of value-added products to enterprise and retail clients.