WayCool Valuation, Funding & Investors
WayCool is valued at $69M as of August 2022.
Last WayCool valuation
$69M
Undisclosed stage · Aug 2022
Last WayCool funding round
$23M
Undisclosed stage · Mar 2026
Cumulative funding WayCool raised
$329M
across 17 funding rounds
Key investors in WayCool
Lightrock
FMO
Lightbox
InnoVen Capital
Trifecta Capital Advisors
Fondo Huruma
About WayCool
WayCool is a Chennai-based agritech firm sourcing, processing, and distributing fresh produce, dairy, and staples across India. It connects farmers directly to retailers via logistics tech and operates SunnyBee stores, trucks, and online channels for fruits, vegetables, and private-label goods at waycool.in.
Founded
2015
HQ
ChennaiWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Subscription
Valuation
$69M (Aug 2022)
WayCool Valuation
WayCool is currently valued at $69M, based on its undisclosed-stage round in August 2022.
The $12M round was led by Trifecta Capital Advisors.
WayCool's valuation has moved from $200M at its Series C in April 2021 to $69M in August 2022, across 3 priced rounds.
WayCool valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2022 | Undisclosed stage | $69M |
| Oct 2021 | Series D | $335M |
| Apr 2021 | Series C | $200M |
WayCool Funding History
WayCool has raised a total of $329M across 17 funding rounds.
WayCool's first fundraising round was a $1M angel round in March 2016. The most recent completed round was a $23M undisclosed-stage round in March 2026.
WayCool funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2026 | Undisclosed stage | Lightrock (lead) | $23M | - | - |
| Jan 2025 | Seed | Trifecta Capital Advisors (lead); Stride Ventures; Alteria Capital | $4M | - | WayCool is a Chennai-based agritech startup that sources, processes, and distributes fresh produce, dairy products, and staples from smallholder farmers and aggregators to retail outlets, hotels, restaurants, and catering establishments. The company leverages quality management and food safety technology to enhance farmer incomes while streamlining logistics and distribution. WayCool operates a retail brand called SunnyBee in Chennai, which includes physical stores, mobile stores on trucks, and e-commerce platforms, supplemented by private label products developed through partnerships with sister companies. In January 2025, WayCool closed a Series B funding round raising INR 38.2 crore ($4.4 million) led by venture debt firm Trifecta Capital Advisors, with participation from Alteria Capital and Stride Ventures. The company has raised substantial debt financing recently, securing INR 110 crore ($12.8 million) from Grand Anicut, bringing total debt raised to INR 275 crore ($32 million) over a four-month period. The startup had previously been in discussions to raise $50–70 million at a $900 million valuation but shifted strategy toward debt funding during the funding winter. |
| Jun 2024 | Series D | Poonawalla Aviation; Shivalik Prints; DS Group; Pivot Investment Partners; Potential VC | $2M | - | - |
| Jan 2024 | Undisclosed stage | - | $30M | - | Chennai-based agritech startup WayCool raised ₹210 Cr (about $22.7 Mn) in a fresh equity funding round through a rights issue led by existing investor Lightrock India, with 3.92 lakh shares allotted at ₹5,347 per share on March 6, 2026. This marks the company's first major equity raise in nearly four years, following prior debt funding of ₹110 Cr from Grand Anicut and an earlier ₹38.2 Cr round in January 2023 led by Trifecta Capital. Overall, WayCool has raised around $183 Mn to date from investors including IFC, FMO, and 57 Stars. The funds aim to support growth, operational expansion, supply chain optimization, and a push toward profitability amid recent restructuring, including workforce reduction in July 2024 and co-founder Sanjay Dasari's departure in December 2024. Founded in 2015 by Karthik Jayaraman and Sanjay Dasari, WayCool operates a full-stack agritech platform focused on food production and distribution, connecting over 85,000 farmers via its 'Outgrow' engagement platform to retailers, food brands, and institutional buyers. It leverages technology for efficient supply chains from soil to sale, selling fresh produce, staples, dairy, and more under seven consumer brands like Madhuram, KitchenJi, L’exotique, and Freshey’s. The rights issue from Lightrock signals confidence in WayCool's revised path to sustainable profitability in a competitive sector. India's agritech funding has seen renewed momentum with peers like Arya.ag raising ₹725 Cr ($80.58 Mn) in Series D in January 2026, AgroStar securing $30 Mn, and Unnati merging with Gramophone. However, WayCool's targeted rights issue reflects challenges in broader venture funding slowdowns, emphasizing operational efficiency and lean structures. |
| Aug 2022 | Undisclosed stage | Trifecta Capital Advisors (lead) | $12M | $69M | WayCool is a Chennai-based agritech startup founded in 2015 that sells food products under brands like Madhuram, KITCHENji, DeziFresh, and Freshey’s, and provides supply chain solutions. In August 2022, it raised ₹950M (approximately $11.5M) in a venture round led by Trifecta Capital Advisors to expand market reach and enhance technology. The company also secured debt financing from Trifecta around the same time to support operational costs and expansion. WayCool's revenue from operations grew 62% to ₹1,251 crore in FY23 from ₹772 crore in FY22, with 98% from product sales and the rest from services. Including other income, total revenue reached ₹1,217 crore in FY23. However, total expenses surged to ₹3,857 crore, leading to losses of ₹685 crore, up 89% YoY. Backed by investors including Lightrock, Lightbox, Lightsmith Group, 57 Stars, and FMO, WayCool has raised around $200-300M total and faced funding challenges post-2022, including layoffs and a failed $50-70M raise at $900M valuation. |
| Jun 2022 | Undisclosed stage | 57 Stars (lead) | $25M | - | Chennai-based agritech startup WayCool raised $25 million in equity funding led by 57 Stars LLC on June 22, 2022, as part of a larger $40 million round that includes additional debt and participation from existing investors. This marks the first transaction for 57 Stars' Direct Impact Fund and the second for its Global Innovation Fund 2. WayCool operates a tech-enabled platform connecting farmers to markets, delivering fresh produce, staples, and dairy while reducing food waste by up to 70% and increasing farmer incomes by up to 30%. The investment aligns with 57 Stars' focus on sustainable development in high-growth sectors driven by technology, targeting positive social and environmental impacts alongside financial returns. WayCool serves over 100,000 clients across multiple channels, works with more than 150,000 farmers, and addresses inefficiencies in India's fragmented agricultural supply chain, where significant food waste occurs before reaching consumers. |
| Jan 2022 | Series D | FMO; The Lightsmith Group; GAWA Capital; Lightbox; International Finance Corporation; Lightrock; Redwood Equity Partners | $95M | - | WayCool Foods and Products Private Limited raised $95 million (approximately 117 million USD equivalent in the source) in a Series D venture round in January 2022 from investors including LightRock, LightBox, FMO, Lightsmith, IFC, Redwood Equity, and Gawa Capital. The round was classified as a start-up investment in the food and agriculture sector. The motivation behind the round was to scale operations and enhance product offerings. This funding came amid a strong month for PE/VC deals in India, with January 2022 recording 13 large deals over US$100 million aggregating US$2.9 billion. WayCool's round was listed among notable investments, though smaller than the largest like Swiggy's US$700 million raise. Start-up investments dominated, accounting for 68% of total PE/VC value that month. WayCool continued raising funds post-2022, including $25M in June 2022 from 57 Stars, ₹950M in August 2022 from Trifecta Capital Advisors, and later rounds up to January 2025, bringing total funding to over $411 million by March 2025. |
| Dec 2021 | Series D | Fondo Huruma; Lightrock | $25M | - | - |
| Nov 2021 | Series D | Lightrock (lead); Lightbox | $12M | - | - |
| Oct 2021 | Series D | FMO; Fondo Huruma; Lightbox; Lightrock | $13M | $335M | WayCool is a B2B agritech and food commerce platform that connects farmers with institutional and retail buyers across India. The company operates a complex supply chain from soil to sale, leveraging technology, automation, and AI to serve over 100,000 clients across general trade, modern trade, e-commerce, and food services. The company maintains a network of over 85,000 farmers and operates across 500+ locations in southern and western India, with private label brands including Madhuram, Shuddha, Kitchenji, L'exotique, and Freshey's. WayCool has attracted investments from major institutional players including Lightrock, the World Bank's International Finance Corporation (IFC), FMO, LightBox, Lightsmith, Redwood Equity Partners, and Gawa Capital over multiple funding rounds. In March 2026, WayCool secured $22.7 million (Rs 210 crore) through a rights issue from existing investor Lightrock India, marking the company's first significant equity funding in nearly four years, with proceeds directed toward achieving sustainable profitability and supply chain optimization. |
| Apr 2021 | Series C | Lightstone Ventures; FMO; Lightbox | $20M | $200M | WayCool Foods is an Indian agri-commerce company founded in 2015 that operates an omnichannel full-stack platform distributing farm-sourced agricultural produce, fresh produce, staples, and dairy products to retailers, traders, processors, HoReCa, and other customers. It maintains strong sourcing networks with over 80,000 farmers across South India through commercial partnerships and its Outgrow agricultural extension program, which provides services like soil testing, AI-based disease identification, market benchmarks, weather data, and best practices to boost farmer incomes by up to 30%. In June 2021, on its sixth foundation day, WayCool announced it had crossed Rs 1,000 crore in annual recurring revenue (ARR), marking 4X growth from the prior year and supporting progress toward annual revenue targets. The company also expanded its customer base 4X to 100,000 in the preceding year, leveraging deep tech, automation, and a technology-integrated supply chain that tripled efficiency even during the pandemic. WayCool planned further investments in automated grading, sorting, robotized material handling, and highly automated dry grocery warehouses to boost pick accuracy and productivity. It aimed to expand sales into Western India, particularly Maharashtra where it already sources strongly, and the Middle East to capitalize on food security needs, historical ties, and the Indian diaspora. Financially, FY21 operating revenue stood at INR 382.3 Cr, surging 2.4X to INR 926.9 Cr in FY22 amid rising expenses, particularly on stock purchases, leading to net losses widening to INR 360.5 Cr. The company raised funds in Series D rounds, including mentions of $13M in a 2021 tranche noted as part of the largest agritech round in India at the time, with later tranches in 2022 involving Lightbox among others, though specific details for the queried investors and date lack valuation figures. |
| Mar 2021 | Series C | Lightrock; InnoVen Capital | $21M | - | - |
| Feb 2020 | Series C | Lightbox (lead); FMO; InnoVen Capital | $35M | - | WayCool Foods and Products is a Chennai-based B2B omnichannel fresh produce distributor founded in 2015 by Karthik Jayaraman and Sanjay Dasari. It sources fruits, vegetables, staples, pulses, dairy, and other products from nearly 40,000 smallholder farmers, primarily in southern India, processes them, and distributes over 250 tonnes daily to 8,000 institutional clients including local shops and modern retail outlets. The company operates a soil-to-sale model with over 40 distribution centers across six states, focusing on supply chain efficiency, technology integration, data analytics, and branded products like Freshey’s, Kitchenji, Madhuram, and Shuddha. In February 2020, WayCool raised approximately $32-35 million (Rs 227-250 Cr) in a Series C round combining equity and debt, led by Lightbox Ventures with participation from Dutch development bank FMO, returning investor LGT Lightstone Aspada, and venture debt from InnoVen Capital. Veda Corporate Advisors advised the transaction. This followed a $16-16.9 million (Rs 120 Cr) Series B in January 2019 led by LGT with Northern Arc Capital and Caspian, and an earlier $2.7 million investment from Lightstone Aspada in 2017, bringing total funding to about $56 million by early 2020. Proceeds were earmarked for automating the supply chain, enhancing data analytics, team expansion, and developing value-added and branded products to accelerate profitability while maintaining a lean, capital-efficient model. The company emphasized social impact by improving farmer incomes, yields, and providing employment to over 900 people. Lightbox highlighted WayCool's technology-driven approach to food supply chain challenges. A separate $10 million Series C tranche was led by Flipkart in January 2020 with GEC3. Lightbox later participated in a Series D follow-on, accumulating $35.4 million investment in WayCool over 1.5 years, amid talks for up to $120 million more. |
| Nov 2019 | Series A | FMO (lead) | $5M | - | WayCool Foods and Products is a Chennai-based agritech company founded in 2015 that operates a technology-enabled supply chain for food and agricultural produce, linking producers of fruits, vegetables, staples, and dairy with retail businesses, restaurants, supermarkets, and stores primarily in Tamil Nadu, Karnataka, and Andhra Pradesh. The company leverages technology and automation to improve logistics, reduce food waste, increase farmer incomes, and enhance produce quality for consumers. It distributes to around 4,000 clients and sources from 51 regions across 10 states, moving over 250 tonnes daily across 14 cities. WayCool also operates retail through its SunnyBee brand with stores and mobile trucks. On November 14, 2019, Dutch development financial institution FMO announced plans to invest $5.2 million (USD 5.25 million, INR 37.31 crore) in WayCool as equity to support operations, expansion, capital expenditure, and working capital needs. The investment became effective January 21, 2020, under FMO's Building Prospects funding and was completed by November 23, 2022. This followed prior raises including $16 million (INR 120 crore) in equity and debt in January 2019 led by LGT Impact Ventures with Northern Arc Capital and Caspian, and nearly $5 million from Lightstone Global Fund in October 2019. Prior to FMO, WayCool had raised about $24 million total from investors like Sakal Media Group and LGT Lightstone Aspada. |
| Mar 2018 | Series A | Sakal Media Group (lead) | $4M | - | - |
| Apr 2017 | Seed | - | $3M | - | - |
| Mar 2016 | Angel | - | $1M | - | - |
Who has invested in WayCool?
20 investors have backed WayCool across its funding rounds, including Lightrock, FMO, Lightbox, InnoVen Capital, Trifecta Capital Advisors and Fondo Huruma.
Lead investors include Lightrock, Trifecta Capital Advisors, 57 Stars, Lightbox, FMO and 1 other investor.
WayCool Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 6 | Lead | Mar 2021 | |
 The Hague | 5 | Lead | Nov 2019 | |
| Mumbai | 5 | Lead | Feb 2020 | |
 Quito | 2 | Participant | Oct 2021 | |
| Gurgaon | 2 | Lead | Aug 2022 | |
| Mumbai | 2 | Participant | Feb 2020 | |
 San Francisco, CA | 1 | Participant | Apr 2021 | |
| New Delhi | 1 | Participant | Jan 2025 | |
| Pune | 1 | Lead | Mar 2018 | |
| Mumbai | 1 | Participant | Jan 2025 | |
| United States | 1 | Lead | Jun 2022 | |
| Pune | 1 | Participant | Jun 2024 | |
| New York City, NY | 1 | Participant | Jan 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by WayCool
WayCool has acquired 1 company to date.
Last acquisition by WayCool was on November 15th 2022. WayCool acquired Allfresh Supply Management for undisclosed valuation.
Latest Acquisitions by WayCool
| Description | Allfresh Supply Management is a New Delhi-headquartered supplier of fresh fruits operating across the apple, citrus, mango, and grape value chains in India. The company sources from 5,000 farmers in Himachal Pradesh, Jammu & Kashmir, Maharashtra, and Madhya Pradesh, providing cold chain storage, sorting, and packing facilities with controlled atmosphere technology. It delivers to retailers and exporters in Delhi, Mumbai, and international markets including the Middle East. Founded in 2013, Allfresh manages 50,000 metric tons of produce annually. |
| HQ Country | |
| HQ City | New Delhi |
| Deal Date | 15 Nov 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all WayCool acquisitions and their M&A valuation multiples. Start Free Trial | |
WayCool Competitors
WayCool competitors include listed companies like Claranova and Arab Sea, and private ones like Dukaan®, SKUTOPIA, Gather AI and Increff.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Bangalore | Private | $1M | - | $71M | 71.0x | |
 France | Publicly listed | $136M | $9M | $40M | 0.7x | |
 Australia | Private | - | - | $71M | - | |
| Pittsburgh, PA | Private | - | - | $72M | - | |
| Bangalore | Private | - | - | $73M | - | |
 Saudi Arabia | Publicly listed | $14M | ($608K) | $97M | - |
WayCool Public Comps
WayCool is still privately-owned, but its public comps include Flowtech Fluidpower, Scana, Carma, R.E.A. Holdings, Kamux, BlueMTec, MARX Biotech, Nine & Co, Pierce Group and CarParts.com.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $157M | $5M | 0.7x | 0.6x | 20.5x | 8.3x | |||
| $164M | $12M | 0.7x | - | 9.6x | - | |||
| $51M | ($18M) | 1.3x | 0.7x | (3.7x) | (3.4x) | |||
| $195M | $63M | 2.2x | 2.1x | 6.9x | 5.6x | |||
| $1B | $17M | 0.1x | 0.1x | 7.5x | 6.2x | |||
| $135M | $521K | 0.6x | - | 168.6x | - | |||
| $20M | $3M | 3.9x | - | 27.1x | - | |||
| $33M | $7M | 1.5x | - | 7.1x | - | |||
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Common questions about WayCool
| When was WayCool founded? | WayCool was founded in 2015. |
| Where is WayCool headquartered? | WayCool is headquartered in Chennai, India. |
| Is WayCool publicly listed? | No, WayCool is a private, VC-backed company. |
| What is WayCool's valuation? | WayCool was last valued at $69M in its undisclosed-stage round in August 2022. |
| How much funding has WayCool raised? | WayCool has raised $329M across 17 funding rounds. |
| What was WayCool's last funding round? | WayCool's last funding round was a $23M undisclosed-stage round in March 2026, led by Lightrock. |
| Who are WayCool's investors? | WayCool's investors include Lightrock, FMO, Lightbox, Fondo Huruma, Trifecta Capital Advisors, InnoVen Capital, Lightstone Ventures, Stride Ventures, Sakal Media Group, Alteria Capital and 10 others. |
| Which companies are comparable to WayCool? | Companies comparable to WayCool include Dukaan®, Claranova, SKUTOPIA, Gather AI, Increff and Arab Sea. |
| How many companies has WayCool acquired? | WayCool has acquired 1 company, including Allfresh Supply Management. |
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