City-based WayCool Foods has raised $32 million in a combination of equity and debt in its latest round of funding.
The funds will be used to automate its supply chain and build the next layer of data analytics required to strengthen the supply chain efficiency. It will also develop and expand its range of value-added products for enterprise and retail customers, said the company in a statement.
The current round of funding was led by Lightbox with the participation of FMO, the Dutch entrepreneurial development bank, as well as its current investor LGT Lightstone Aspada. WayCool had also partnered InnoVen Capital to raise venture debt as part of this round.
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WayCool Foods procures, processes and distributes a wide range of food products, including fresh produce, staples and dairy products, moving over 250 tonnes of food every day to 8,000 enterprise-clients across southern India.