Supply chain start-up Wheelocity raises $12 mn to expand business

Wheelocity will use the fund to build new products, expand its customer base and improve its fruits and vegetables supply chain

Wheelocity, a supply chain start-up for fresh food supplies, has raised $2 million in a funding round led by venture capital firm Lightspeed.

The series A round included equity and venture debt and had participation from Anicut Capital and other investors, said Wheelocity on Tuesday. The company will use the fund to build new products, expand its customer base and improve its fruits and vegetables supply chain.

“Clearly, there is a massive problem to be solved by building the rails for fresh produce in India, and we are excited to be backed by Lightspeed & Anicut to solve this at scale," said Selvam VMS, founder and CEO of Wheelocity.

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. “Over the next six months, Wheelocity aims to bring in world-class talent across roles in product, technology, and operations, among others,” it said in a statement.

“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.