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WayCool Foods | A Chennai agritech that has turned to shrinking under funding strain

2026.03.26

Article summary

WayCool Foods is an agritech and food supply chain company founded in Chennai in 2015. Cumulative funding of around 300 million dollars makes it one of the largest in Indian agritech, but it carried out three rounds of job cuts from 2023 onward, and headcount has fallen sharply from a peak of more than 2,000. The most recent full-year revenue disclosed is FY2023's ₹1,261.8 crore (1 crore = 10 million rupees). Co-founder Sanjay Dasari stepped down from his executive role in December 2024.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

WayCool Foods is a supply chain company that delivers produce collected from farmers to retailers and restaurants. It raised some of the largest funding in Indian agritech, but job cuts have continued since 2023, and it is now in a phase of shrinking and rebuilding.

Company profile

Item	Details
Legal name	WayCool Foods and Products Private Limited
Year founded	2015
Headquarters	Chennai, Tamil Nadu
Co-founders	Karthik Jayaraman and Sanjay Dasari (Dasari stepped down in December 2024)
Revenue	₹1,261.8 crore (FY2023 = fiscal year ended March 2023. No full-year results have been disclosed since)
Employees	No settled figure has been published (about 160 as of the end of March 2025 on registry filings, several hundred in job-listing compilations)
Total funding raised	About 303.56 million dollars (17 rounds. Most recently March 2026)
Listing	Unlisted
Official website	waycool.in

Business and strengths

It assembles the collection, sorting, storage and delivery of produce in house and delivers to retailers, restaurants and processors. Beyond fresh produce, it had widened the items it handles to grains, dairy and processed goods.

Funding reached one of the largest levels in Indian agritech, but widening the item range made inventory and logistics heavier, and monetization did not keep up.

Recent developments

It carried out three rounds of job cuts: more than 300 in July 2023, 70 in February 2024, and more than 200 after that. Headcount has fallen sharply from a peak of more than 2,000. Reporting as of July 2024 mentioned delayed salary payments and late payments from trading partners while stating that it had secured 75% of a bridge round of around 40 million dollars. Co-founder Sanjay Dasari stepped down from his executive role in December 2024 and moved to an advisory position. Cumulative funding ranges from 276 million to 304 million dollars depending on the outlet compiling it.

The most recent full-year results disclosed are FY2023's ₹1,261.8 crore, and no figures have been released since.

Points for Japanese companies

In Indian agritech, the amount of funding raised and the durability of the business do not necessarily match. When choosing a supplier or a logistics contractor, it is worth checking the latest disclosures and the trend in headcount rather than the size of the funding. WayCool is a case in point.