Chennai-based agritech startup WayCool Foods and Products has secured $5.5 Mn in debt financing. Cofounder and CEO Karthik Jayaraman told Inc42 that the debt has been 100% guaranteed by US International Development Finance Corporation (DFC) and comes through IndusInd Bank’s impact investment division. The funds will help WayCool with its expansion plans within southern India. With a primary goal of reducing food wastage and improving farmer yields, Jayaraman said the funds would also help introduce implement strict hygiene measures and increase the efficiency of transportation through technology.

(Inc42)