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 and its network of apple and citrus growers. Farmers in Himachal Pradesh, Punjab, Maharashtra and Madhya Pradesh, among other locations, connect 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.
Chinna Pardhasaradhi, Group CFO WayCool Foods, said, “We welcome AllFresh into the WayCool Family. Investing in AllFresh will strengthen our sourcing of premium apples and citrus from 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.”
Naresh Jawa, Founder and Promoter, AllFresh said, “I am delighted to be on board with WayCool. AllFresh & WayCool pursue the common objective of formalizing India's scattered fruit and vegetable industry. 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 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.
WayCool Foods is India’s leading food and Agri-tech platform. Focusing on food development and distribution, the company leverages innovative technology to scale and operate a complex supply chain from soil to sale. Through its farmer engagement program - Outgrow, the company works closely with 200k farmers.
