WayCool invests in AllFresh to access supply chain for premium fruits
14 November 2022, Chennai: WayCool Foods, an agri-tech company, has announced an investment in AllFresh Supply Management Private Limited (AllFresh) as part of its strategy to create a Keiretsu in the global food supply chain.
AllFresh has been pioneering the development of modern supply chains in the apple and citrus spaces, introducing state-of-the-art practices and technology to erode food loss and extend the shelf life of these products. With the increase in prosperity, the consumption of premium fruit is expected to grow rapidly in India. As the nation ramps up its acreage under cultivation to meet this growing demand, WayCool will leverage Allfresh’s capabilities, as well as its network of apple and citrus growers, and farmers in Himachal Pradesh, Punjab,Maharashtra, and Madhya Pradesh, among other locations, connecting their output to WayCool’s extensive network of over 1,25,000 retail clients. The investment will help AllFresh further invest in its capabilities in post-harvest tech to enhance quality and extend shelf life. AllFresh will also benefit from increased access to WayCool’s deep and dense distribution network in India, and the UAE.
Mr. Chinna Pardhasaradhi, Group CFO, WayCool Foods said, “We welcome AllFresh into the WayCool Family. The investment in AllFresh will further strengthen our sourcing of premium apples and citrus from across India. WayCool already brings these products from global sources. Our investment in AllFresh, therefore, completes our supply chain capability and enables us to deliver fresh fruit year-round.”
Mr. Naresh Jawa, Founder, and Promoter, AllFresh said, “I am delighted to be on board with WayCool. AllFresh & WayCool pursue the common objective of formalizing the scattered fruit and vegetable industry in India. We aim to reduce pre & post-harvest wastage and realize better value for farmers, using state-of-the-art knowledge and technology. We look forward to extending our acquired expertise in efficient procurement and marketing of Indian Apples & Oranges to a wider basket of premium fruits along with WayCool”
WayCool has been making several effective investments in companies that bring complementary capabilities to its platform, especially those with deep capabilities that are at the cusp of rapid growth. Most recently, it invested in SV Agri, one of India’s largest independent potato supply chain and solutions companies, which has grown by over 2.5x since its most recent fundraising from WayCool.
Also Read: Indian cricketer Ajinkya Rahane announces 1 crore seed fund for Agri-tech Startups
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)