[Funding alert] Lightbox leads $32M investment in agritech startup WayCool Foods
Summary
The round was led by Lightbox and saw participation of FMO, the Dutch entrepreneurial development bank, as well as its current investor, LGT Lightstone Aspada. “The company leverages technology and innovative concepts to improve logistics and distribution services. The company is also highly impactful on the social side as it sources its produce from over 35,000 smallholder farmers that benefit from higher prices and improved yields. This is FMO’s first agritech deal under the new Ventures Program, which focuses on fintech, off-grid energy, and agritech.” Founded in July 2015 by Karthik Jayaraman and Sanjay Dasari, WayCool intends to accelerate its path to profitability and will focus on maintaining as well as further improving its lean, capital-efficient model. WayCool has previously raised two rounds of funding from Aspada, LGT Impact Ventures, Caspian Impact Investment, and Northern Arc Capital Ltd. Lightbox is a Mumbai-based venture capital firm that builds consumer technology businesses and has raised a total of $400 million.
Classifications
AskAI Classifications
LabelsLinked Companies
