FMO infused $5.2 mn in agri-tech startup Waycool

Waycool Foods and Products, which is a Chennai based company that operates and owns a technology-enabled supply chain for the food and agriculture produce, is in line to secure $5.2 million from the Dutch Development Financial Institution.

The proposed investment will support the Waycool Foods operation, capital expenditure, expansion, and working capital needs said the announcement.

As of now, Waycool Foods had secured $24 million from the investors, such as the LGT Lightstone Aspada, Sakal Media Group, and some other individual investors.

The company, as of now, competes with the Agritech startup, such as the Ooty based Lawrencedale Agro Processing India and others.