WAYCOOL FOODS AND PRODUCTS PRIVATE
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Established in 2015, Waycool Foods & Products PVT LTD (“Waycool” or the “Company”) is an Agri Tech company active in the Supply Chain Technologies space in India. With its food logistics & distribution activities, the Company operates across: i) multiple categories: fruits & vegetables, staples, and dairy & packaged foods, ii) multiple channels: retail businesses, hotels & restaurants, supermarkets, and own stores, and iii) multiple states in Southern India: Tamil Nadu, Karnataka, and Andhra Pradesh. The Company aims to build India’s largest and most impactful agri-food platform.
What is our funding objective?
An equity investment is contemplated that will support the Company’s operations, expansion and capex + working capital needs.
Why do we fund this investment?
The Company focusses on India’s fragmented food value chains and leverages technology and automation to improve logistics and distribution services, reduce food waste, increase farmer income and improve quality of the produce for the consumer.
What is the Environmental and Social categorization rationale?
This is a Category B+ project on Environmental and Social Sustainability due to the potential limited adverse social and environmental (E&S) risk and / or impacts that are few, generally site-specific, largely reversible and readily addressed through mitigation measures. While this project has been screened against all Performance Standards, FMO’s E&S due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards: PS 1 - Assessment and Management of Environmental and Social Risks and Impacts PS 2 - Labor and Working Conditions PS 3 - Resource Efficiency and Pollution Prevention PS 4 - Community Health, Safety and Security As the nature of this project does not involve direct land acquisition or direct use of natural resources but is instead facilitating the farm to table linkages, the following performance standards do not apply to this project: - PS 6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources - PS5 - Land Acquisition and Involuntary Settlement - PS7 - Indigenous - PS8 - Cultural Heritage FMO will periodically review the project’s ongoing compliance with the Performance Standards.
More investments
| Date | Total FMO financing |
|---|---|
| 11/23/2022 | EUR 0.10 MLN |
- Region
- Asia
- Country
- India
- Sector
- Agribusiness, Food & Water
- Publication date
- 11/13/2019
- Effective date
- 1/21/2020
- Total FMO financing
- USD 5.25 MLN
- Funding
- Building Prospects
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+