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The nonprofit lender Root Capital and publicly traded coffee and beverage giant Keurig Dr Pepper today announced a partnership to support small-scale agricultural coffee businesses that have been negatively affected by the COVID-19 pandemic.
The three-year program, called the Partnership for Sustainable Supply Chains, involves a $35 million loan guarantee from the U.S. International Development Finance Corporation (DFC). The DFC, which was formally established in 2019 through the bipartisan BUILD Act, is designed to facilitate financing for U.S. businesses in emerging markets overseas.
Root Capital said the DFC loan guarantee will improve its lending capacity in the three-year Keurig Dr. Pepper supply chain resiliency project, which is designed to affect some 150,000 farmers in 12 countries throughout Africa, Latin America and Indonesia.
Indian agri supply chain startup WayCool Foods raises $7 8 million in debt from RBL Bank, others firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
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Chennai-based agritech startup WayCool Foods announced that it has raised $7.8 million in debt from Samunnati, RBL Bank and InnoVen Capital.
This follows the earlier debt financing round of $5.5 million which was guaranteed by United States International Development Finance Corporation (USIDFC) and financed by IndusInd Bank.
Earlier this year, the startup also raised its Series C round of $32 million led by Lightbox.
The funds will be utilized for meeting working capital needs and to boost automation in the existing distribution centres and warehouses. The startup plans to achieve 70 per cent digital and mechanical automation across all distribution units by mid-2021, thus improving process flow, efficiency, and eliminating error-prone mundane activities.
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