Indian agritech startup Waycool raises $12 million in fresh funding

Oluwajuwonlo Afolabi -

Waycool, an India-based businesses-to-business (B2B) and agritech platform has raised $12 million in its new funding round from Trifecta Ventures, in a mixture of debt and equity financing.

  • This new raise is coming two months after the agritech startup raised $40 million in equity and debt funding from 57 Star Global Innovation Fund (Techloy reported this), making it its second round of funding in 2022.
  • Waycool has expanded its employee stock ownership plan (ESOP) with an addition of 15, 371 options. Its ESOP now stands at 92, 758 at a $70 million valuation.
  • Waycool is an Indian B2B agritech startup transforming the food value chain. It currently has 150,000 in its retailer base, 160,000 in its farmer base, and offers tech stack food. Its revenue grew 41% in FY21.
  • The agritech makes 98% of its income through sales of traded goods and it competes with platforms like Ninjacart, Walmart, Absolute, DeHaat, AgroStar, and Arya.ag.