WayCool Foods & Products, an agri-commerce company, is planning a capex of $75-100 million over 4 years to fund its expansion and acquisition among others.
“We are planning to spend capex of $75-100 million for strengthening the automation in dry items, warehouses, making the IT platform scalable, developing value added food products and acquisitions,” said Karthik Jayaraman, CEO & co-founder.
He also said that in the near term, the company would strengthen its network of warehouses for dry groceries, repackaging facilities in and around Tamil Nadu and Bengaluru, and distribution and collection centres. On its foray into newer markets, the CEO said that entering Maharashtra was a logical step since it was one of the strongest bases for sourcing, while West Asia had a large presence of Indian diaspora. WayCool had started working with some partners in this regard, Mr. Jayaraman added.
