WayCool Secures Rs 210 Crore in Rights Issue Led by Lightrock India
CHENNAI – B2B agritech and food supply chain major WayCool Foods has raised Rs 210 crore (approximately $22.7 million) in a fresh funding round through a rights issue. The investment was led by existing investor Lightrock India, marking the company's first significant equity infusion in nearly four years.
According to regulatory filings with the Registrar of Companies (RoC), the board at WayCool allotted 3.92 lakh equity shares to LR India Fund I S.a.r.l. (Lightrock) at an issue price of Rs 5,347 per share.
Strategic Pivot Toward Profitability
This capital infusion comes at a critical juncture for the Chennai-based startup. After a period of aggressive expansion, WayCool has spent the last 18 months undergoing a radical restructuring to streamline operations. This included:
Operational Rightsizing: Laying off over 200 employees in mid-2024.
Leadership Changes: Co-founder Sanjay Dasari stepped down in December 2024 after a decade with the firm.
Financial Discipline: A shift in focus from pure revenue growth to achieving sustainable Ebitda-level profitability.
Founded in 2015 by Karthik Jayaraman and Sanjay Dasari, WayCool operates a full-stack platform connecting over 85,000 farmers with retailers, institutional buyers, and food brands. The company manages a diverse portfolio of consumer brands, including Madhuram, KitchenJi, and Freshey’s.
Agritech Sector Outlook
WayCool's successful internal round reflects a broader trend in the Indian agritech landscape where investors are doubling down on established players with proven supply chain capabilities. Recent months have seen significant activity in the sector, including Arya.ag raising Rs 725 crore and AgroStar securing $30 million, signaling a "flight to quality" among venture capitalists.
Data Table: WayCool Funding & Financial Overview (March 2026)
| Feature | Details |
| Latest Funding Amount | Rs 210 Crore ($22.7 Million) |
| Lead Investor | Lightrock India |
| Funding Instrument | Rights Issue (Equity) |
| Issue Price per Share | Rs 5,347 |
| Last Known Valuation | ~$700 Million (Series D) |
| Total Funding to Date | ~$205 Million (Equity + Debt) |
| Key Founders | Karthik Jayaraman, Sanjay Dasari (Exited) |
| Major Competitors | Ninjacart, DeHaat, Jumbotail |