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WayCool Foods Raises USD 7.8 Mn Through Structured Debt Financing ANI | Updated: Dec 10, 2020 17:52 IST
Chennai (Tamil Nadu) / Bengaluru (Karnataka) [India], December 10 (ANI/BusinessWire India): WayCool Foods, India s largest agri supply chain startup, has raised USD 7.8 million in debt from Samunnati, RBL Bank, and InnoVen Capital.
This follows the earlier debt financing round of USD 5.5 million which was guaranteed by United States International Development Finance Corporation (USIDFC) and financed by IndusInd Bank. WayCool also closed the Series C round of USD 32 million led by Lightbox earlier this year.
The funds will be utilized for meeting working capital needs and to boost automation in the existing distribution centres and warehouses. WayCool Foods plans to achieve 70 per cent digital and mechanical automation across all distribution units by mid-2021, in turn improving process flow, efficiency, and eliminating error-prone mundane