Europe’s impact fund Huruma invests $11.6 million in WayCool

WayCool focuses on food development and distribution and leverages innovative technology to scale and operate a complex supply chain from soil to sale.

Gawa is a veteran European impact investor into India, and together, we will explore building viable commercial and financing models in the food supply chain.

Europe’s leading impact investing fund, Huruma, managed by GAWA Capital, announced its investment of $11.6 million in Chennai-based agri-commerce company WayCool Foods. The investment will be used to accelerate and leverage deep tech and automation at WayCool to enhance its efficiency multi-fold.Luca Torre and Agustin Vitorica, Co-CEOs, GAWA Capital, said:

“We are very proud for our investment in WayCool Foods as the company is revolutionising the way food is produced, distributed and consumed while benefitting some of the most vulnerable people in India. Farmers increase their income, kirana stores can improve their offering and low-income consumer have access to more nutritious food with the added benefit of dramatically reducing food waste.”

WayCool focuses on food development and distribution and leverages innovative technology to scale and operate a complex supply chain from soil to sale. Advanced technology has allowed the business to grow 4X in revenue which is driven by a jump in the share of own brands from 2-15% of revenue. WayCool has increased its overall customer base by 10X and recently entered the Middle East market.  Chinna Pardhasaradhi CFO, WayCool Foods, said: “We welcome Gawa Capital to WayCool foods.

Gawa is a veteran European impact investor into India, and together, we will explore building viable commercial and financing models in the food supply chain.”WayCool already has operations in 6 states with over 40 distribution centres and is all set to build a tech playbook to scale quickly.

The company operates a full-stack, broadline product range across multiple channels and categories such as fresh produce, staples, and dairy, serving over 1 lakh clients. Waycool’s consumer brands basket consists of Madhuram, Kitchenji, L’exotique and Freshey’s.

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