Waycool Foods acquires IP of Gramworkx

Agritech startup waycool Foods said it has acquired the IP of gramworkx and will invest $1 million in the company and another million in the following years, Karthik Jayaraman, cofounder & CEO, Waycool Foods said.

"We already have a farm management tool that we use to provide insights to farmers based on data collected from the India Meterological Department (IMD) and other organizations but the gramworkx platform will enable more precise prediction and analysis," Jayaraman said.

To help farmers guide, optimise and monitor utilisation of water gramworkx is a cloud-based smart farm resource management tool.

"We provide crop-specific data and solutions as per the geographical location and soil type. We also have a feature of image-based disease detection," KA Gopalakrishnan, co-founder, gramworkx said.

"These were all issues that we needed to address and we built our technology around it," Jayaraman said. "And within the next six months, we are looking to provide these as saas solutions to other players to help solve various issues that these companies may encounter."

To address specific concerns - be it for farm management, shop floor management, logistics management, a B2B platform or as a B2C service waycool also is looking to launch their tech stack as a saas-based solution.

Led by existing and new investors including lightrock, lightbox, FMO, Lightsmith, World Bank Group’s — IFC, Redwood Equity Partners and Gawa Capital The Chennai-based startup recently completed a $117 million Series D round.

Last year, Waycool Foods said it was on track to report Rs 1,000 crore top line during the current financial year.