chennai agri supply chain startup waycool foods has raised 78 million in debt from samunnati rbl bank and innoven capitalthe startup said it will utilise the funds for meeting working capital needs and to boost automation in the existing distribution centres and warehouses waycool foods plans to achieve 70 digital and mechanical automation across all distribution units by mid2021 in turn improving process flow efficiency and eliminating errorprone mundane activities the company said this follows the companys debt financing round of 55 million which was guaranteed by united states international development finance corporation usidfc and financed by indusind bank earlier this year waycool also closed a series c equity funding round of 32 million led by lightbox earlier this yearthe latest debt round completes the funding requirements for the companys annual business plan it will be used to support select new lines of growth and build related physical as well as digital assets chinna pardhasaradhi cfo waycool foods saidthe innovative instruments that we are developing in partnership with rbl bank will free the business from working capital as a growth limiter ceo karthik jayaraman said waycool procures processes and distributes fresh produce staples and dairy products servicing over 16000 clients across south india the company operates a soiltosale model engaging with around 50000 farmers in more than 50 regions across india through a direct supply chain model waycool counts lightbox lgt lightstone aspada and fmo among its investors and has raised debt in the past from caspian impact investment and northern arc capital