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Agri & Agritech

DATE July, 2022
TYPE Private Equity
VedaCorp advises Wheelocity a leading supply chain network for fresh commerce in its $12 Mn Series A fund raise from Lightspeed Venture Partners & Anicut Capital

VedaCorp advises Wheelocity a leading supply chain network for fresh commerce in its $12 Mn Series A fund raise from Lightspeed Venture Partners & Anicut Capital

About

Wheelocity

Wheelocity

Founded in 2021, Wheelocity works across farm-side procurement, city-side infrastructure and last mile delivery to end consumers. The Company has grown rapidly and currently handles 700 metric tonnes of produce every day across its network, which is present in 12 cities including Bengaluru, Delhi-NCR, Chennai, Kolkata, and Mumbai.

Lightspeed Venture

Lightspeed Venture Partners is a US based PE firm, which has backed 700+ companies across geographies since its incorporation in 2000. Key investments include hotel aggregator platform Oyo, ed-tech platform Byju’s, Online B2B marketplace Udaan, among others, betting largely on companies across technology, consumer and financial services.

Anicut Capital

Anicut Capital is founded by experienced professionals who have spent credible years of their career in Commercial, Private & Investment Banking at senior levels. Anicut Capital currently manages an equity-based Angel Fund and two debt funds with a combined AUM of INR ~1,700 crores.

Background

We are pleased to announce that our client, Wheelocity Fresh Private Limited (“Wheelocity”), a leading supply chain network for fresh commerce, has raised $12M in its Series A round from Lightspeed Venture partners and Anicut Capital. The funds will help Wheelocity expand their business operations and in building out their technology stack.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company.

“The VedaCorp team was a trusted partner who guided us through the entire transaction process, advising us on choosing the right investor and ensuring timely transaction closure”

Mr. Selvam VMS

Founder & CEO - Wheelocity

“Wheelocity has demonstrated tremendous traction and client relationships in a short span of time , owing to their best in class supply chain engineering capabilities. The company is in the midst of an exciting phase of market expansion , and this capital infusion will enable it to scale faster in the coming years”

Atul Saraogi

Director - Veda Corporate Advisors Private Limited