Vidushi Kamani, Venture Partner, Kae Capital said, “In terms of deal size, at this stage, the company is adequately capitalised for its next phase of growth.”
WOTU was founded in 2015 by former PayPal employees, Dhruv Sawhney and Mihir Mehta. WOTU serves as an e-mandi for a vast variety of products such as fruits, vegetables, pulses, grains, meat & poultry.
WOTU is a platform that directly connects farmers, processors and manufacturers with last-mile F&B outlets starting from standalone restaurants and pubs to large scale hotels and food chains.
The platform enables deep supply chain integration with farmers and processors, a strong technology platform, an extensive product range, a warehousing facility and platform-integrated logistic capabilities.
In February this year, Kae Capital raised $30 Mn as part of its second fund from existing and new investors. It is a sector agnostic fund and invests in companies that bring about innovative solutions for the existing gaps in the markets. It was founded by Sasha Mirchandani in 2010.
Earlier this month, Mahindra Univeg invested an undisclosed amount in ecommerce startup MeraKisan. In August 2016, Delhi-based agritech startup DayBox raised $104K (INR 70 Lakh) from Ashutosh Lawania (co-founder, Myntra); Rajul Jain (SVP Supply Chain, Myntra and co-founder, Yebhi.com); Badal Malick (ex-VP Omnichannel, SnapDeal); Rishi Gupta (CEO, Fino Paytech Ltd); and six other angel investors.
The development was reported by ET.