WayCool Bags INR 100 Cr Debt From Grand Anicut

In a significant financial move, WayCool has secured INR 100 crore in debt funding from Grand Anicut. This development marks a crucial milestone for the Chennai-based agriculture supply chain firm. Let’s dive into the details of this exciting news and explore both companies involved.

WayCool and Grand Anicut: A Comparison

Aspect	WayCool	Grand Anicut
Type	Agriculture supply chain firm	Alternative investment firm
Founded	2015	2016
Headquarters	Chennai, Tamil Nadu	Chennai, Tamil Nadu
Key Focus	Agritech, supply chain	Debt and equity investments
Notable Achievement	Near-unicorn status	Managing multiple investment funds

WayCool Bags INR 100 Cr: The Details

WayCool has successfully raised INR 100 crore (about $12 million) through debt financing. Here’s a breakdown of the deal:

• Instrument: 1,000 Series B6 debentures
• Issue Price: INR 10,00,000 per debenture
• Interest Rate: 18% per year
• Duration: 18 months

This funding comes at a crucial time for WayCool, as it’s their first major cash infusion in two years[3].

WayCool’s Journey: From Farm to Fork 🚜🍅🏪

WayCool, founded by Karthik Jayaraman and Sanjay Dasari, has been on an exciting ride:

1. Started in 2015: Began with a mission to improve the agriculture supply chain
2. Rapid Growth: Expanded operations across multiple states in India
3. Diverse Operations: Now handles fresh produce, dairy, and FMCG distribution
4. Funding Success: Raised about $160 million to date
5. Valuation Peak: Reached a valuation of $700 million in its last equity round

Grand Anicut: Powering India’s Startup Ecosystem 💼💰

Grand Anicut, established in 2016, has become a key player in India’s alternative investment landscape:

1. Multiple Funds: Manages various investment funds, including debt and equity
2. Wide Portfolio: Invested in numerous startups across different sectors
3. Expertise: Specializes in providing growth capital and strategic support
4. Strong Team: Led by experienced professionals in finance and investment

WayCool Bags INR 100 Cr: Impact and Implications

This debt funding is crucial for WayCool for several reasons:

• Operational Support: Funds will be used for ongoing business operations
• Alternative Financing: Shows WayCool’s ability to secure non-equity funding
• Market Position: Helps maintain WayCool’s strong position in the agritech sector

Key Metrics: WayCool’s Performance

Metric	FY23 Value	Change from Previous Year
Operating Revenue	INR 1,251 crore	↑ 62%
Losses	INR 685 crore	↑ 89%

The Agritech Landscape in India

WayCool’s funding highlights some interesting trends in the Indian agritech sector:

• Funding Crunch: Agritech remains one of the least funded segments in 2024
• Unicorn Watch: The sector is yet to produce its first billion-dollar valuation company
• Key Players: WayCool, Dehaat, and Ninjacart are close to unicorn status

Looking Ahead: WayCool Bags INR 100 Cr

As WayCool bags INR 100 cr, it faces both challenges and opportunities:

Challenges:

• Achieving profitability
• Navigating the competitive agritech landscape
• Managing operational costs

Opportunities:

• Expanding market reach
• Innovating in supply chain technology
• Potential for future equity funding

Conclusion

The INR 100 crore debt funding from Grand Anicut is a significant boost for WayCool. It demonstrates the company’s resilience and ability to secure financing in a challenging market. As WayCool continues to grow and innovate, it will be exciting to watch its impact on India’s agriculture sector.

Sources:

1. Anicut Capital website
2. RocketReach company profile
3. Entrackr article on WayCool funding
4. Business Outreach article on WayCool
5. Anicut Capital “About Us” page