Takes another step towards creating a keiretsu in Agri-commerce
by Suman Gupta
Chennai, July 22 2021:WayCool Foods, India’s fastest growing Agri-commerce company, announced that they will be investing USD 5 million into Siddhi Vinayak Agri Processing Pvt. Ltd (SV Agri), one of India’s largest fully integrated players in the potato supply chain ecosystem. The investment will allow both WayCool and SV Agri to leverage their strong supply chain eco-systems & boost the quality and supply of Potato Seed, Storage and Processing across India.
India’s domestic demand for potatoes has slowly increased over the last few decades. India’s daily consumption of potatoes stands at 1.25 Lakh Tonnes per day and is growing at a steady pace making it the 4th largest food crop grown in the country. Owing to the association with world-renowned Dutch cooperative, Agrico, SV Agri boasts of providing Indian farmers with some of the best-in-class Potato seeds.
With the investment from WayCool, SV Agri will look to introduce a wide variety of seed potato and further expand their existing storage solutions while also gaining access to WayCool’s strong network in South India and international markets. Leveraging both supply chains will enable the companies to increase the production of high quality Potatoes for Indian consumption and as well as meet global demands. SV Agri plans to introduce a new low glycemic variant of Potatoes called ‘Carisma’. The new variant scores 58 points on the glycemic index as opposed to the available potato variant that scores 80 points. ‘Carisma’ has been very well received in health-conscious markets abroad and is soon to make an entry into the Indian market.
Commenting on the partnership, Mr. Hemant Gaur, co-founder of SV Agri Processing, said, “We have partnered with one of the best companies in the industry to deliver efficiencies. We are excited to be collaborating with an established Agri- supply chain player – WayCool. Over the years we have seen WayCool’s technology and automation knowledge grow leaps and bounds making them the largest Agri-commerce players in the country. We see a great demand for high quality potatoes in southern India and see an opportunity to leverage our expertise to quell the demand with the help of our collaboration with WayCool. We can also see a fruitful partnership for our cold storage and engineering solutions as WayCool is renowned to push boundaries when it comes to innovative and customized solutions to adapt their supply chain as per Indian requirements.”
Implementing innovative Indigenous firsts in automation and technology has enabled WayCool, to successfully create and establish a World Class Tech-Enabled Alternative Supply Chain.
Speaking on the tie-up, Mr. Karthik Jayaraman, Chief Executive Officer and Co-Founder, WayCool Foods & Products Pvt Ltd, said, “We are making a ‘Keiretsu’ in agri-commerce. This investment is another step towards that. At WayCool, we look to invest in like-minded companies that bring in diverse expertise and create mutual synergies. SV Agri has expertise ranging from providing high quality seeds for farmers with advisory services, best in class storage solutions, nationwide delivery network, top of the line engineering solutions and capability to manufacture a wide range of processing equipment. At WayCool we have been leveraging advanced deep tech to strengthen our ecosystem as well and see an ideal fit in SV Agri where we can leverage each other’s skill sets to enhance our offering, reach as well as deliver comprehensive offerings to our customers.”
About WayCool: WayCool Foods is India’s largest and fastest growing agri-commerce company. 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, WayCool works with 80000+ farmers. WayCool operates a full stack, broadline product range across multiple channels and categories such as fresh produce, staples, and dairy, serving over 50,000 clients in the general trade, modern trade, and food services space. Waycool’s consumer brands basket consists of Madhuram, Dhanyaa, Shuddha, Kitchenji, L’exotique and Freshy’s, to name a few.
About Siddhi Vinayak Agri Processing Pvt. Ltd.: Established in 2008, Siddhi Vinayak Agri Processing Pvt. Ltd. has been a disruptive player in the Potato ecosystem. From producing high quality of seeds, providing potato storage & supply solutions to engineering best in class processing technologies, Siddhivinayak Agri Processing Pvt. Ltd. is a player well known globally.
SV Agri’s Agri Business Division has the best storage solutions and a nationwide delivery network through which we make available process grade potatoes to the process industry round the year. Through our Engineering Business Division, we engineer and manufacture a wide range of processing equipment for pre-processing, processing and post processing of potato based and other western and Indian traditional snacks. Be it potato grading, snacks production, flavouring systems, packing distribution or state of the art conveying systems, we do it all. We have a dedicated team helping our customers in their industrial space with providing consulting solutions and wastewater management technologies as well.
