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Agritech Waycool may raise $40 million in internal round led by Lightrock

Money Control · 1y

Agritech startup Waycool is reportedly in talks to raise $40 million in an internal funding round led by Lightrock. This comes after a larger funding round from external investors failed to materialize. The Chennai-based company aims to address its liquidity challenges with the additional capital, while also focusing on strengthening its consumer brands. The overall funding round is expected to close in the next few weeks and will involve existing investors, including Lightbox Ventures and Redwood Equity Partners. Waycool plans to become profitable and pursue an IPO by 2025.