WayCool Foods, a Chennai-based agritech firm, is planning to expand its footprint into Western India & Middle East nations. Despite the epidemic, the company grew and improved its efficiency, according to the corporation, which marked its sixth foundation day on 8 July.
“Despite the hurdles, we have reached numerous milestones this year, and we crossed an annual recurring revenue (ARR) of 1000 crore in June,” said Karthik Jayaraman, chief executive officer and co-founder of WayCool Foods and Products Pvt Ltd. This is a four-fold increase over the same period last year, putting us on course to meet our yearly revenue targets.”
“We've also quadrupled our consumer base in the last 12 months. We intend to increase our investment in, and use of, deep technology and automation in the next years to improve our efficiency. Jayaraman continued, "We will also expand our sales reach to Western India and the Middle East."
Intelligent cross-docking for dry foods, AI-led grading of grains and pulses, and robotized fresh produce handling are just a few of the technologies WayCool employs to boost efficiency. According to the company, this has resulted in a 70% reduction in working hours, making WayCool 50% more efficient than the industry standard.
The company claims to engage with 80,000 farmers in South India, not just through commercial partnerships, but also through its agricultural extension program, Outgrow, to help them boost their revenue by up to 30%.
Outgrow is a multilingual app that offers a variety of services to farmers, including soil testing, AI-based disease detection, market-price benchmarks, weather inputs, and instructional films. In the next three years WayCool intends to expand its staff from 1,250 to 3,000.
