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WayCool completes investment into SV Agri, India’s leading potato value chain player
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Saturday, 22 January, 2022, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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WayCool Foods, India's fastest growing Agri-commerce company, unveiled the completion of its investment in SV Agri (SiddhiVinayak Agri Processing), one of India’s largest fully integrated players in the potato supply chain ecosystem. The company initiated the process in July 2021 and has completed its investment of $7.5 million in the company.
Karthik Jayaraman, managing director, WayCool Foods, said, “Our investment into SV Agri is inline with our overall strategy to bring product specific value chains onto our platform, and unlock significant value through the same. SV Agri has expertise in growing and providing high quality potato seed tubers, best in class storage solutions, and top of the line engineering solutions for value added products. WayCool will bring its technology platform, reach and distribution capability.”
“WayCool is building a keiretsu in agri-commerce. SV Agri is a like minded company and brings deep tech capabilities in the space. India has shown a great demand for potatoes in the last few decades. India’s daily average consumption of potatoes is 1.25 lakh tonnes per day and is growing at a steady pace making it the 4th largest food crop in the country,” added Jayaraman.
Hemant Gaur, co-founder, SV Agri, said, “SV Agri has been introducing a wide variety of potatoes into the market. We will further expand existing storage solutions while also gaining access to WayCool’s strong network across India and international markets. The synergy will help in creation of value in the supply chain: with potato varieties, superior storage technology, and the ability to process potato into value added products, and scale up rapidly.”
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