Waycool

In a related development, BP Ravindran, who was appointed CEO of Waycool's FMCG entity-BrandNext in April last year, has exited the company, per sources.

Agritech Waycool in talks to raise $40 million in internal funding round led by Lightrock

Sources say the new round will either be a bridge or a down round. Waycool was last valued at $700 million in June 2022 and is unlikely to see an uptick in valuation in the ongoing round.

Lightrock-backed WayCool forms subsidiary BrandsNext to drive FMCG business

During a media briefing, WayCool managing director Karthik Jayaraman said that the new corporate entity has been created to attract the right talent and skillset to help the segment grow.

Agri-commerce startup WayCool looking to become Rs 6,000 crore entity by FY25

Chennai-based WayCool was founded by auto industry veteran Karthik Jayaraman and Sanjay Dasari, the son of the ex-head of Ashok Leyland Vinod Dasari in 2015. It was founded as a social enterprise and agri-tech company.

Green shoots? Agritech startups brave funding winter as investments nearly double compared to last fiscal

Agritech continues to attract investors who say the nascent sector has potential to grow on rising demand for quality food amid tailwinds like climate change and food security concerns.

Food and agritech platform WayCool raises $40 million in funding led by 57 Stars

This investment comes a few months after it closed a $117-million Series D round led by existing and new investors including LightRock, LightBox, and FMO in January this year.