Wheelocity raises $12 Mn Series A funding led by Lightspeed, Anicut Capital

• ByStartupStory     |    July 12, 2022

A supply chain network for the fresh economy called Wheelocity has raised $12 million in a Series A funding round that was primarily led by Lightspeed. The funding round included both venture debt and equity. Anicut Capital and additional investors joined in as well. The company wants to use the funds raised to expand its product offerings for farm-side businesses, helping its current clientele to grow quickly and enhancing supply chain efficiency for fruits and vegetables (F&V). 

Selvam VMS, founder and CEO of Wheelocity said, “Despite the fact that India has a surplus of fresh foods, studies show that more than 33 million Indians are undernourished. On the one hand, we dump thousands of tonnes of F&V every day due to supply chain inefficiencies. Building the rails for fresh produce in India is obviously a huge problem that needs to be solved, and we are thrilled to have the support of Lightspeed and Anicut to do so.”. 

Rahul Taneja, partner at Lightspeed, said, “In Wheelocity, we saw a mission-driven team dedicated to making a meaningful difference for its customers by building the rails for fresh commerce in the nation. Resolving the fresh supply chain in India is a very big problem. We are thrilled to partner with the team and excited that their unique approach is being rewarded with increased customer trust.”

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About Wheelocity :

Wheelocity, a fresh commerce company founded in 2021, uses technology to assist fresh commerce companies in improving their customer experience by providing unmatched inventory availability, better quality, and decreased wastage in the fresh supply chain, all of which are provided at a better-than-class and affordable price.

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