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Key Facts

case study

  • Waycool Foods and Products was founded with the goal of managing India's farm-to-fork supply chain in order to provide consumers with cleaner, fresher, and better products while increasing farmer returns and minimizing loss and inefficiency.

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  • Waycool plans to accomplish this by creating effective connections between farmers and consumers on the one hand and by utilizing both physical and information technology on the other.

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GROWTH

  • The majority of Waycool's expenses, or 69% of all expenses, are spent on the purchase of exchanged goods. From Rs 272.9 crore in FY20 to Rs 369.27 crore in FY21, this expense increased sharply by 35.3%.

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  • The city-based company reported $1 billion in gross revenue for FY22, a threefold increase over the same period the previous year. It earned gross revenues of 370 crore and 280 crore correspondingly in the two years prior.

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  • According to a top executive, agriculture supply chain startup WayCool Foods has plans to bet on own brand sales to double its gross income to 2,000 crore during the current year.

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  • According to Chinna Pardhasaradhi, CFO of WayCool Foods and Products Pvt. Ltd., "After the introduction of our own brand during March, its revenue pie has grown from 5% to 25% and we hope this growth will help us achieve ₹2,000-crore mark in gross revenue in FY23."

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INVESTMENTS

  • WayCool collected $117 million in January of this year to expand and use deep technology and automation to multiply its efficiency.

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  • Waycool has raised a total of $404 million across various rounds of funds, and holds 21 investors in its cap table.

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TECHNOLOGIES

  • WayCool Labs, the company's technology division, has created a single technological supply chain called "Phy-Gital." It contains four software suites that serve as interfaces for information flow and transparency among the stakeholders — farmers, warehouse, distribution members (sales and fulfillment teams), and end customers — each representing a stake in the business.

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  • RAPID, an automated supply chain management system, has taken over. The crate is placed on a conveyor as it enters the warehouse, which scans the barcode using IoT devices, maps it against the purchase order, weighs it digitally using a checkweigher system, maps it against the physical order, and then scans it once more before placing it at the outbound gate area next to the assigned order

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  • 40% of the crates that enter the warehouse are dispatched directly to the buyer without human contact.

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  • Garuda is an intelligent distribution management system, which performs a wide range of operations from order-taking to chores linked to distribution to mapping the demand across market regions.

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  • The retail suite, the final component, contains the direct application known as Pragati that connects retailers with vendors, offers fulfillment and quality data, and aids in managing payment cycles.

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