B2B food and agritech platform WayCool has secured about $22.7 million (Rs 210 crore) through a rights issue from its existing investor Lightrock India. This marks the company’s first significant equity funding in nearly four years.
WayCool’s board has allotted 3.92 lakh equity shares to LR India Fund I S.a.r.l., SICAV-RAIF (Lightrock) at an issue price of Rs 5,347 per share, Entrackr reported citing the company’s latest filing with the Registrar of Companies (RoC).
Previously, the company had secured about $13 million (Rs 110 crore) in debt funding from venture debt firm Grand Anicut Fund last year. Prior to the current round, WayCool had raised around $183 million in total funding from investors including Lightrock, International Finance Corporation, FMO, and 57 Stars, among others.
Headquartered in Chennai, WayCool was founded in July 2015 by Karthik Jayaraman and Sanjay Dasari. The company operates a full-stack food and agritech platform spanning categories such as fresh produce, staples, and dairy. Its supply chain connects farmers, retailers, and enterprise clients, serving over 850 towns across India and international markets such as the UAE.
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