He also said the investment kitty will be used for capex towards technology and automation.The Rs 400 crore turnover company which had earlier acquired two companies, a logistics provider and a ready-to-cook maker, has raised about $46 million equity and debt till date.
“We move about 500 ton per day across regions. There are companies available with specialised skills in specific supply chains. We will make investments in select segment specialists, as they complement our capabilities and save wastage,” said Karthik Jayaraman, CEO-Co-Founder, WayCool Foods and Products. “We are also investing in automation.
Last year our $20 million investments were in capacity building and this year it will be in capability building,” he added.Largely a B2B food products supplier (source from farmers/farmer producer organisations directly and supply to retail outlets/bulk buyers) in the southern markets and in Maharashtra, WayCool Foods is also in the retail space with its SunnyBee retail outlets.
On the technology side, the investment will be for making WayCool’s integrated platform scalable, add artificial intelligence for demand forecasting, supply planning and reduced waste, sales enablement (recommendation engines) and crop management (weather based advisory, disease identification) and have digital lending features.In respect of automation the plan is to make it 100 percent from the cur-rent 60 per cent for fresh produce and scale up pack-ing capacity.