WayCool achieves INR 1000 Crores ARR
News Desk, News Nation 360 : WayCool Foods, India's fastest growing Agri-commerce company, on the occasion of its 6th foundation day announced that they have crossed the INR 1000 cr ARR (Annual Recurring Revenue) milestone and are well on the path to expanding into newer markets. WayCool, will be expanding its reach into western India and the Middle East. Speaking on the occasion of the 6th Foundation Day, Karthik Jayaraman, Chief Executive Officer and Co-Founder, WayCool Foods & Products Pvt Ltd, said that they have achieved many milestones this year despite the challenges, and have crossed an ARR of INR 1000 crore in June. This represents a 4X growth over the same time last year and puts them on track to achieving their annual revenue goals. They have also increased their customer base by 4x in the last 1 year. Over the next few years, they plan to further invest in, and leverage deep tech and automation to enhance their efficiency. They will also be expanding their sales footprint to Western India and the Middle East. Implementing deep tech and automation has enabled WayCool to successfully create a World Class, Sustainable Supply Chain. Apart from increasing the overall efficiency by 3x, advanced technology has also allowed WayCool, even in pandemic conditions, to service its base of 100,000 customers across the retail space, HoReCa and other verticals with fresh produce, staples and dairy products. Further, the company now works with a base of 80,000 farmers across south India, not just through their commercial partnerships but also through their agricultural extension program, Outgrow, to increase their incomes by as much as 30%. The company yesterday launched an upgraded version of Outgrow, its multilingual app that provides a range of services to its farmers, such as soil testing, AI-based disease identification, market price benchmarks, weather inputs and videos that share good agricultural practices.
Report : Anustup Kundu