Aspada Investment, venture vendor, puts $2.7 million in a Chennai based startup Waycool Foods and Products Private Ltd.
About Waycool Foods and Products Private Ltd.
This startup endorses a strategy that lays out the utilization of funds to enhance their reachability in major cities such as Hyderabad and Benguluru, enhancing their basic infrastructure and building a high tech platform to diminish the hamstring stuck with Supply chain services
Waycool Foods And Its Services
Waycool is a distribution company that deals in fresh products like vegetables and fruits. It reaches out to small scale farmers and aggregators to supply their vegetables and fruits and sells them through retail outlets, small local vendors and hotels so that the customers can get fresh produce. It is currently active in Tamil Nadu having its distribution center in Chennai.
Karthik Talk About The Reason Of Investment
As per Karthik Jayraman who is co founder and chairman of Waycool, “India is the second-largest producer of fruits and vegetables in the world, and presents a significant opportunity for private players to profitably organise perishable produce value chains. Our partnership with Aspada will allow us to leverage not only their cumulative expertise in India’s horticulture value chains, but also their sizeable portfolio of fresh produce companies.”
Products And Supply Strategies
Also, Chief Financial Officer at Aspada, Kushal Agrawal enlightened about strategies for products and supply in his statement,
“Structural challenges in India’s fresh produce supply chain, comprised of multiple intermediaries, leads to significant wastage (30 percent by volume), lower prices for farmers, and poor quality produce at a high relative price. As a sophisticated post-harvest supply chain firm, Waycool will address these challenges through disintermediation and careful produce handling, thereby catering to a rapidly growing urban middle class that increasingly demands safe, high-quality, and traceable fresh fruits and vegetables.”
Products Would Be Fresh Veggie And Fruits
It already develops a thesaurus of such companies which are mainly concerned with fresh products value chain supply for fruits and vegetables of almost all categories, like: Ini Farms, All Fresh, LEAF, and SV Agri. These categories include Pomegranates, Pineapples, bananas, apples, potatoes, and all other tropical vegetables and fruits.
Prepared A Chart Of Associative Companies
Moreover Aspada created an atlas for companies that traverse through logistics, education, agriculture supply chain, healthcare, technology, and financial services. It is also working for SONG that is a premature venture debt funded by Google, Omidyar Network, and SEDF (abbreviated for Soros Economic Development Fund)