F&V supply chain startup Wheelocity, which provides fresh produce to quick commerce companies said, it has raised $12 million in a mix of equity and debt in its Series A funding round led by Lightspeed India Partners, Anicut Capital, and other investors.
Founded in September 2021 by Selvam VMS, Senthil Kumar A and Amresh Singh, Wheelocity supplies fresh fruits and vegetables to quick commerce companies like Swiggy Instamart, Dunzo, Blinkit, and Zepto.
It offers plug-and-play models for its business-to-business (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.
The Chennai and Bengaluru-headquartered startup competes with Ninjacart, which also offers a plug-and-play model for B2B customers. The company operates in 12 cities and handles around 700 tonnes of fruits and vegetables every day. It aims to reach over 30 more cities in India over the next year.
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Wheelocity will use the fresh capital to build new product offerings on farm side operations and developing technology to deliver automation and standardization, as well as product development. It will also hire across product, technology, and operations.
The company said it can enable its customers to launch in new cities in less than a week through the help of its integrated network of collection centres, fulfilment and distribution centres, last-mile hubs, dark stores, and logistics services.
“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,” said Rahul Taneja, partner at Lightspeed.
“With the highly efficient and sustainable solutions built by Wheelocity, we believe that they will bridge the existing bottlenecks of fresh commerce in India and revolutionise the entire farm-to-fork supply chain,” said Ashvin Chadha, Managing Partner, Anicut Capital.
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