Wheelocity, a supply chain startup for fruits & vegetables, has raised $12 million in a mix of equity and debt in a Series A funding round to build new products in farm operations, helping its customer base scale rapidly and drive efficiencies within the F&V supply chain.
Lightspeed Partners India, Anicut Capital, and other investors led this round. The startup will also focus on hiring talent across product, technology, and operations.
Founded in 2021, Wheelocity supplies fresh fruits and vegetables to quick commerce companies like Swiggy Instamart, Dunzo, Blinkit, and Zepto. It aims to dramatically reduce/eliminate food wastage through technology-powered supply chains, along with developing technological capacities like IoT-based packing units, AI-based work solutions, and warehouse/logistics automation.
“India is a fresh-food surplus country. Despite that, while, on one hand, we dump/lose hundreds of thousands of tonnes of F&V every day due to supply chain inefficiencies, on the other hand, studies indicate more than 33 million Indians are undernourished,” Selvam VMS, Founder & CEO of Wheelocity.
The startup offers plug-and-play models for its B2B clients, meaning any company that wants to offer fresh fruits and vegetables to its customer base can tie up with Wheelocity and immediately enable the service.
Speaking on the investment, Rahul Taneja, Partner at Lightspeed, said, “Solving the fresh supply chain in India is a very large problem, and in Wheelocity, we saw a mission-driven team, committed to create a meaningful difference for its customers by creating the rails for fresh commerce in the country. We are delighted to partner with the team and excited that their unique approach is being rewarded with increased trust from customers.”