Kumari Palany & Co

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Why this agro tech start up of Chennai is grabbing many eyeballs now?

Posted on: 16/Jan/2019 10:38:47 AM
Way Cool Foods is a Chennai based agro-tech start up company founded in the year 2015 by Mr. Karthik Jayaraman and Mr. Sanjay Dasari. Their main aim was to optimise the agro-products supply chain. It is brought out that this company has got vision to become worlds largest food development and distributing company by positively impacting the lives of farmers in India. The latest news is this Way Cool Foods of Chennai has raised an amount of Rs 120 crores as a combination of equity and debt from LGT Impact of Zurich, Northern Arc Capital, Caspian and other angels. To scale operations across southern and western regions of India, to bolster technology platforms and to strengthen its capabilities in the areas of sourcing and automation of distribution lines etc, Way Cool Foods would be utilising the fund.

The information collected is this Way Cool Foods company now handles over 150 tonnes of food produce every day across 13 locations in India. It is worth mentioning that this amazing company deals with products across categories like fresh produce, staples, dairy etc with more than 4000 clients.

As per the co-founder, Way Cool, Foods, Mr. Sanjay Dasari, the growth of the company has been rapid and almost all the business lines were operationally profitable. He then spoke about how after their institutional fund rise their company had committed to open and operate 3 locations. He added that his company is operating from as many as 13 locations at present. He shared his thoughts on how 70 % of companys tonnage is sourced directly from farmers and other farming partners and how 100% of payments were made digitally in 3 to 5 days. He threw light on the increase of farmers income by about 20% on average that was achieved because of his company.

The execution ability of Way Cool Foods has impressed none other than Mr. Karthik Srivatsa who is the managing partner at Aspada. He is also an early investor in Way Cool Foods. He pointed out that inspite of few disturbances in the market the Way Cool foods were able to scale rapidly and consistently by leverage technology to build high quality supply chain.