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Agro chems – Pesticides, Agrotech, Country, North America, R&D

Total market enlist E3™ Soybean Acreage Projections for 2020 nearly doubled

Corteva, Inc. (NYSE: CTVA) recently announced that the Company is accelerating the ramp-up of Enlist E3™ soybeans to U.S. and Canadian farmers over the next five years – reinforcing the Company’s commitment to its Enlist technology and continued focus on bringing greater choice and value to growers. Corteva continues to see strong demand for the technology from farmers, retailers and independent seed companies; and expects planted acreage projections in 2020 to approach 20 percent of the U.S. market – double original expectations. 

“The decision to accelerate production of Enlist E3 soybeans, along with the Enlist One® and Enlist Duo® herbicides, ahead of the 2021 selling season reflects our continued focus on rapidly ramping up differentiated technology solutions that we expect will enable greater choice and value for growers over time,” said James C. Collins, Jr., Corteva Chief Executive Officer. “Our Enlist weed control system illustrates the power of Corteva across platforms, integrating seed and chemistry – providing much-needed solutions to farmers that address complex challenges, such as weed resistance, while strengthening Corteva’s proprietary trait offering.” 

Enlist E3 soybeans are an industry-leading triple-stack of herbicide tolerance, jointly developed and owned by M.S. Technologies, L.L.C. They incorporate glyphosate and glufosinate and enable use of Corteva’s new 2, 4-D formulations in Enlist One® and Enlist Duo® herbicides with near-zero volatility and minimized potential for physical drift when label directions are followed.

 Solid on-farm performance of Enlist E3 soybeans last fall has led to continued interest among growers and retailers, as well as independent seed companies seeking to license this innovative technology. More than 20 additional licensees have signed contracts to access the technology, bringing total licensee agreements to more than 120 in the United States and Canada. 

During the five-year ramp-up period, Corteva is expected to significantly reduce the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits beginning in 2021, with expected minimal use of the trait platform after the completion of the ramp-up of the Enlist weed control system.

The Company also announced that it recently received import authorization in China for the Conkesta™ soybean insect control trait, which will be offered as a stack with the Enlist E3 soybean herbicide trait in Latin America in the early 2020s.

Total market enlist E3™ Soybean Acreage Projections

R&D, Water

The MoU aims to install drip irrigation in sugarcane farms of over 5,000 hectares in two Uttar Pradesh districts

 

 DCM Shriram has signed a memorandum of understanding with Rabobank and Rivulis Irrigation India, the Indian arm of Israeli micro irrigation firm Rivulis, to install drip irrigation in sugarcane farms of over 5,000 hectares in two Uttar Pradesh districts, the company said in a statement recently.

 The proposed installation of drip irrigation in four units of the company located at Ajbapur, Rupapur, Hariawan and Loni in Lakhimpur Kheri and Hardoi districts is meant to give further fillip to the water conservation efforts.

 “The project is being taken up with the aim of increase the yield while conserving water in cultivation of sugarcane. With this project, the cost of sugarcane cultivation will reduce, thereby increasing the income of farmers,” Roshan Lal Tamak, ED and CEO for DCM Shriram’s sugar business, said in the statement. 

According to the company, the Lucknow-based Indian Institute of Sugarcane Research, an apex organization of sugarcane research in the country, certified various good agricultural practices and water conservation measures adopted by DCM Shriram sugar factories in its catchment areas in these districts have already resulted in water saving of 275 billion litres in the last three years.

The MoU aims to install drip irrigation

Agro Universities, R&D, Types

 A joint research programmes will be undertaken to develop & adopt effective management strategies for pests, diseases, nematodes & weeds for key agricultural and horticultural crops in Tamil Nadu. 

Agri Business Major Syngenta and Tamil Nadu Agricultural University (TNAU) have signed a Memorandum of Understanding to facilitate joint research in the field of agriculture. AS per the MoU, joint research programmes will be undertaken by Syngenta and TNAU to develop & adopt effective management strategies for pests, diseases, nematodes & weeds for key agricultural and horticultural crops in Tamil Nadu.

 N Kumar, TNAU Vice Chancellor said that such MoU mode partnership will benefit TNAU and Syngenta to tackle and mitigate the new & rising invasive pest issues, locusts, etc. Kumar also highlighted the need of such public private partnership on extension outreach programmes & stewardship. 

Dr Andre Oliveira, Head of Crop Protection Development APAC Syngenta said that “Syngenta would be delighted to furthering their research work in association with the TNAU considering the expertise & pragmatic approach, on sustainable crop solutions through innovative labor saving formulation technologies & good agricultural practices to deliver value for farmers in India. These initiatives will be a win-win for all leading to better resource use & higher farmers ‘household incomes”.

 Head of Crop Protection Development, India Dr Sunil Kurchania emphasized the need to extend innovations to the entire agricultural sectors & food value chain so as to meet the challenges of increasing farm output, and partnership approach with State Agricultural Universities all over the country.

 Dr A.S. Krishnamoorthy, the Registrar of TNAU and Dr Sunil Kurchania of Syngenta signed the MoU in the presence of VC, N Kumar & other senior officials.

 

 A joint research programmes will be undertaken

Country, E-commerce, Middle East countries, Trade

Tea exports to Iran rose 74% last year to 53.5 million kg. Shipments to China also gained on demand for black-tea brands 

 According to the reports of Bloomberg, Iran overtook Russia to emerge as the top buyer of Indian tea last year, after sanctions against the Islamic Republic halted imports other than specially negotiated deals.

India and Iran have been trading through a rupee-based bank account to bypass restrictions imposed by the US. While this bilateral trade has boosted imports of Indian tea at higher-than-normal prices, the outlook for orthodox teas is uncertain, with even Lipton owner Unilever Plc weighing a sale of one of its best-known brands. 

“This boost really has come because of the rupee-rial trade arrangement that we have had with Iran,” said Azam Monem, a director at McLeod Russel India Ltd, which is among the nation’s largest tea exporters. “India’s diplomacy should allow us to remain a partner to Iran where we supply humanitarian aid, tea and rice.” 

Overall, Indian exports dropped 3 per cent to 248 million kilogrammes last year as bad weather hit production in the crucial months of June and July. Prices rose 8.5 per cent to Rs 226 per kilogramme. 

Increase in shipment to China

India also saw a 30 per cent increase in shipments to China, the world’s biggest producer of tea, due to rising demand in the green-tea-drinking nation for India’s black-tea brands. Indian leaves such as Darjeeling, Assam and Nilgiri are used in processing the ready-to-drink milk tea popular across Asian nations. 

However, India’s tea industry faces headwinds in controlling costs, after an increase in wages last year. “Prices are unlikely to rise in 2020 unless consumption surges,” according to Vivek Goenka, chairman of the Indian Tea Association. “Any material increase in wage rates in the new season, without a substantial increase in tea prices, would prolong the stress,” said Kaushik Das, an analyst at Icra Ltd.

 

Tea exports to Iran rose 74% last

E-commerce, R&D, Supply Chain

YOOM is also recognized for its pioneering packaging, sourced from cardboard produced from sustainably managed forests. 

 

 

 The new purple YOOM tomato has won the prestigious gold award at the industry-leading Fruit Logistica Innovation Awards 2020 in Berlin, Germany.

 YOOM stands out as an innovation with its highly attractive purple color and its powerful sweet-sour balance for an umami taste. This new tomato variety brings another healthy food option to the consumer. 

“These tomatoes are exactly what consumers are looking for in the grocery store: they are tasty, healthy and convenient,” says Erik Fyrwald, Chief Executive Officer of Syngenta. “This is a fantastic achievement: it’s a win for consumers, Syngenta and the environment. Congratulations to the entire Syngenta Vegetable Team.”

 The Fruit Logistica Innovation Award (FLIA) is presented annually at Fruit Logistica in Berlin, Germany. It honors outstanding innovations in the entire fruit and vegetable supply chain from production to the point of sale. It recognizes the ten best innovations in the international fresh fruit and vegetable industry.

“Winning this award is recognition of Syngenta’s commitment to innovation to meet growers’ needs to grow healthy, and delicious, vegetables which consumers want to buy,” says Jeremie Chabanis, Syngenta Value Chain Lead EAME. 

YOOM is also recognized for its pioneering packaging, sourced from cardboard produced from sustainably managed forests which embraces consumers’ requirements for more sustainability in the grocery market.

 YOOM tomatoes are currently available in Australia, Belgium, Denmark, France, Greece and Spain; distribution will begin soon in markets such as Austria, Canada, Germany, Switzerland, United Kingdom and the United States. Production continues to grow and reach new markets around the world.

YOOM is also recognized for its pioneering

Acts & Schemes – Centre, Pulses, Trade

India hosts the UN World Pulses Day celebrations in New Delhi.The event was organized this year by NAFED in collaboration with Global Pulse Confederation (GPC).

 

Inaugurating the UN World Pulses Day celebrations in New Delhi, Union Minister for Agriculture & Farmers Welfare Narendra Singh Tomar said that initiatives of the Government in increasing pulses production in the country yielded positive results and Government is committed to provide remunerative prices to farmers for the produce. Government’s aim is to make India a surplus country in terms of pulses production. The Minister added that Government’s primary focus given to the sector is seen from the budgetary allocations made for the Agriculture and Rural Development sectors which is about Rs. 3 lakh crore. While the Agriculture sector budget was Rs.27 thousand crore couple of years ago, the Government has allocated over Rs. 1.5 lakh crore in FY 2020-21, he added.

Tomar said after having achieved surplus food grains production, the country has turned self-sufficient in Pulses cultivation since 2016-17 with the combined efforts of all stakeholders following the directions of the Prime Minister Narendra Modi. In the crop year 2018-19 India produced 22 million tonnes of Pulses and for the next year a target of 26.30 million tonnes is projected. 

The Minister said that in order to ensure proper value for the produce, Government has raised the MSP by one-and-a-half times based on recommendations of the Swaminathan Committee. eNAM has been strengthened with a view of One Nation One Market which has provided farmers access to better and wider market area ensuring a fair price. Already 585 Mandis have joined the eNAM portal and another 400 Mandis will be added soon. To strengthen the logistics associated with the Agriculture sector, a new Kisan Rail has been announced in this budget which will benefit both the Agriculture and Horticulture sectors. To promote exports of fruits from the North-East, the KisanUdanYojana has been announced in the budget, he added.

 

Congratulating NAFED for taking a lead in organizing the World Pulses Day event,  Tomar said the Government has procured 63 lakh tonnes of Pulses in the last five years, benefitting lakhs of farmers.

 Addressing the event Dr Ramesh Chand, Member NITI Aayog said the biggest role in increasing pulses production is to be played by country’s R&D, as technology is the major driving force in increased production than the price factor. Citing serialization of Indian diet post-Green Revolution for several nutritional issues in the country today, Dr Chand said that in order to address these concerns we need to look into the past of pulses cultivation and consumption patterns.

The United Nations General Assembly has designated February 10 of each year since 2019 as “UN World Pulses Day”. The event was organized this year by NAFED in collaboration with Global Pulse Confederation (GPC). The Tripura Minister for Food, Civil Supplies and Consumer Affairs, Manoj Kanti Deb, Global Pulses Confederation Chairperson Ms. Cindy Brown, NAFED Chairman Dr Bijender Singh and representatives from various countries and officials of Central and State Governments and people associated with pulses production and sales were present in large numbers during the event.

 On the occasion, the Minister launched the ‘Family pack of NAFED pulses and NAFED Organic pulses. A NAFED Coffee Table Book, recording its journey since inception on 2nd October, 1958 to the present and an FAO publication “Global Economy of Pulses” were also launched. The inaugural session was followed by four sessions devoted to the need of enhanced production and consumption of pulses for nutrition, investment in the supply chain of pulses and the need of value addition as well as the outlook of pulses globally with emphasis on India.

 

India hosts the UN World Pulses Day

Dairy, Live Stock, R&D

The “Centre for Laboratory Animal Studies (BSL II)” built with a cost of about Rs. 7 Crores has the capacity for housing about 7,000 lab animals, such as, rat, mice, rabbit and hamsters etc. 

Dr Trilochan Mohapatra, Secretary (DARE) & Director General (ICAR) inaugurated the state-of-the-art “Centre for Laboratory Animal Studies and Centre for Climate Resilient Animal Adaptation Studies” during the Silver Jubilee celebrations at the ICAR- recently. Dr Mohapatra also inaugurated the Indo-Australian International Workshop on “Transfer of mitigation technologies for heat stress in farm animals” organized during the occasion.

 The Director urged to take the Institute forward towards an international arena. He opined the significance of developing the ICAR-NIANP as a “Global Institute of Excellence in frontier areas of Animal Nutrition and Physiology”. Dr Mohapatra signified the importance of developing a blueprint of targeted breeds and build appropriate programme to achieve the targets.

 In his address, Dr Joykrushna Jena, Deputy Director General (Fisheries Science), ICAR insisted on effectively utilizing the facilities for the ongoing research programme on climate change and livestock production.

 Dr Bhupendra Nath Tripathi, Deputy Director General (Animal Science) released the research highlights on “Climate resilient goat production: Current scenario and way forward” during the occasion. 

The “Centre for Laboratory Animal Studies (BSL II)” built with a cost of about Rs. 7 Crores has the capacity for housing about 7,000 lab animals, such as, rat, mice, rabbit and hamsters etc. The animals will be used for the investigations on bio-availability of nutrients, stem cell biology, stress models and for breeding and supply of laboratory animals to the other organizations.

 Built with an estimated cost of about Rs. 2 Crores, the “Centre for Climate Resilient Animal Adaptation Studies” has 24 micro-climatic controlled chambers – 12 for thermo-neutral zone and 12 for heating / cooling. The chambers will be used for the quantification of epigenetic changes associated with the climate change in small ruminants, pathway analysis study for heat stress, etc. 

Earlier, in his welcome address, Dr Raghavendra Bhatta, Director, ICAR-NIANP provided an overview about the Indo-Australian Workshop organized during the occasion.

 A total of 30 participants from all over the country India and Heads of all ICAR Institutes at Bengaluru participated in the event.

 Around 4 delegates from University of Melbourne, Australia also participated in the workshop.

The “Centre for Laboratory Animal Studies (BSL

Acts & Schemes – Centre, Agrotech, Start ups

Indigram Labs Foundation is startup accelerator, working in the field of Agri-tech and food-tech along with climate change. 

 

 

The startup culture in India is booming after acquiring Government aid and the exclusive help provided by Accelerators. Startup accelerators support early-stage, growth-driven companies through education, mentorship, and financing .NIDHI- (National Initiative for Developing and Harnessing Innovations) is Program conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology, Government of India. NIDHI is an umbrella programme for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

 

What is Startup Accelator?

Accelerators are playing a pivotal role in startup communities across the globe. Acceleration programs are critical to improving the startup’s outcomes. Indigram Labs Foundation is one such startup accelerator, working in the field of Agri-tech and food-tech along with climate change. It was established in 2015. It is registered as a technology business incubator under section 8 (Not for Profit Company) of company act 2013 and received support from NSTEDB, Department of Science & Technology, Government of India. The major thrust areas of Indigrams’ incubation efforts are Agriculture-Technology & food processing, clean Energy and Automation, rural focused healthcare and wellness and Education. ILF has recently been accrued with a NIDHI grant and is in the process of acquiring new innovators to help them with seed money, prototyping, mentorship and building these startups from ground up. The program will be conducted in 4 phases across the country and the registrations have begun.

 The accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months. Accelerators provide entrepreneurs with access to a large pool of resources including, but not limited to investors, marketing/PR, a network of mentors and business advisors, and a structured curriculum with goals/metrics. The program is intended to prepare them for pitching to the carefully selected angel investors and venture capitalist. These program is expected to contribute to building a vibrant startup a hub in the region by establishing a network between start-ups, academia, financial institutions, industries, and other institutions.

Indigram Labs Foundation is startup accelerator, working

Nature, R&D, Sustainable Energy, Water

CNH continually work to improve water management implementing targeted initiatives through World Class Manufacturing and Logistics programs 

CDP, the international non-profit that drives companies and governments to reduce their greenhouse gas emissions and safeguard water resources, has recognized CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) as a global leader in sustainable water management, naming it as one of only 71 companies included in the CDP’s prestigious Water Security A-List. Furthermore, CNH Industrial scored an A- in the CDP Climate Change. 

“We are delighted that the CDP has once again recognized our ongoing efforts in the fundamental areas of water management and helping combat climate change” said CNH Industrial Chief Executive Officer, Hubertus Mühlhäuser. “We continually work to improve water management implementing targeted initiatives through our World Class Manufacturing and Logistics programs. Our increasing investments in developing and commercializing alternative propulsion technologies are playing an important role in helping develop lower-impact vehicles.”

 Every year, thousands of companies disclose data about their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2019, companies were requested to do so by over 525 investors with over USD $96 trillion in assets and 125 major purchasing organizations with USD $3.6 trillion in purchasing power.

 

The CDP’s questionnaires on climate change and water have an individual methodology that scores responses across four levels: disclosure, awareness, management of environmental risks and demonstration of best practices associated with environmental leadership.

 These latest results follow CNH Industrial’s ninth consecutive year as the Industry Leader in the Dow Jones Sustainability Index, World and Europe. The Company is also included in the following indexes: FTSE4Good Index Series, MSCI ESG Leaders Indexesi ECPI Global Agriculture Liquid, ECPI World ESG Equity, ECPI Global Developed ESG Best in Class, ECPI Euro ESG Equity, Euronext Vigeo Europe 120, Euronext Vigeo Eurozone 120, STOXX Global ESG Leaders Index, STOXX Global ESG Environmental Leaders Index, STOXX Global ESG Social Leaders Index, STOXX Global ESG Governance Leaders Index, STOXX Global ESG Impact Index, STOXX Global Low Carbon Footprint, STOXX Global Reported Low Carbon Indexii and Integrated Governance Index (IGI).

About CNH Industrial  

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions.

CNH continually work to improve water management

Country, Environment, North America, Packaging & Labelling, Supply Chain

It  will create economies of scale to reduce costs, and stimulate a closed-loop circular economy that recycles berry clamshells back into new berry clamshells.

In another step to further reduce the produce industry’s environmental impact, major North American fresh berry producers announced their commitment to use 100% recycle-ready packaging by 2025. The California Strawberry Commission, the North American Blueberry Council (NABC), Asociacion national de Exportadores de Berries (Aneberries, Mexico), members of the National Berry Crops Initiative, and South American exporters are joining to maintain industry leadership in sustainable packaging. 

The cornerstone of this collaboration is the commitment to new label standards, which will optimize the recycle readiness of all berry clamshells throughout North America. The groups are further unified in their commitments to encourage consumer recycling of clamshells and establish new purchase specifications for packaging manufacturers. By working together as competitive collaborators, these actions will create economies of scale to reduce costs, and stimulate a closed-loop circular economy that recycles berry clamshells back into new berry clamshells.

 This commitment to 100% recycle-ready clamshells complements existing actions that use recycled content to make berry clamshells. For over a decade, berry clamshells have been among the food packages that use the most California post-consumer recycled content in the U.S. For example, it is common for California berry clamshells to contain more than 50% recycled content. 

“Berry farming has a long history of innovation and leadership that once again came together to make this ambitious pledge,” said Rick Tomlinson, president of the California Strawberry Commission. “Achieving 100% recycle ready packaging represents the type of continuous improvement that is common among farmers as they strive for ever improving efficiency.” 

”The North American Blueberry Council (NABC) is pleased to join this coalition of berry industry leadership to help achieve this important and ambitious initiative,” said Kasey Cronquist, president of NABC. “This commitment to 100% recycle-ready packaging reflects a team effort and our continued focus on helping our growers, shippers and industry partners attain a goal that no one organization could accomplish alone.”

 “Mexico plays an important role in creating value in the world supply of fresh berries, including the U.S. market. Our members are committed to forward-thinking sustainable practices and we are aligned in the collaboration efforts to collectively make a difference with more sustainable packaging, stated Also Mares Benavides, president of Aneberries. “This reflects our mission as an organization where profitability can’t be separated from the responsibility of sustainability.”

 “Clamshell packaging revolutionized the ability of berry growers to transport their fruit to consumers nationwide,” said Henry Bierlink, president of the National Berry Crops Initiative (NCBI). “Now, the industry is working together on the next phase of that revolution, one that preserves the ability to safely transport fresh berries to market while minimizing product damage, reducing food waste, and demonstrating ongoing environmental stewardship. NBCI is a committed partner in this berry clamshell sustainability initiative.”

 

Since the 1990s, many berry farmers shifted to the use of clear plastic packaging shaped as a vented box with a hinged lid, also known as a clamshell. This type of packaging created a market to convert recycled plastic water bottles into clear, lightweight containers that protect the fruit from damage and contamination, thus reducing food waste. Further, this type of packaging decreases greenhouse gas emissions by reducing the amount of raw resources needed to make the packaging, and reducing fuel use as lighter packaging makes lighter shipments. 

Beyond the climate-friendly reduction in resource use and greenhouse gases, enhanced plastic recycling generates jobs and economic benefits for local communities, creating a circular economy to produce, collect, recycle and reprocess berry clamshells.

 

Individual berry companies are making commitments to explore more sustainable and scalable solutions that include:

 Encouraging material recycling handlers and consumers to recycle more clamshells,

Including post-consumer recycled content in clamshell packaging,

Supporting innovation of new materials that are readily recyclable and/or compostable.

A resource website has been launched to provide more information about sustainable berry packaging. For more information, visit BerrySustainable.com.

 

Additional South American partners have also pledged their commitment to 100% recycle-ready packaging by 2025, including Argentinean Blueberry Committee, Chilean Blueberry Committee, and ProArandanos (Peru).

It  will create economies of scale to reduce

Acquaculture, Live Stock, R&D

Lab will help exporters take on global competition 

 Marine Products Export Development Authority (MPEDA) inaugurates its first state-of-the-art microbiology laboratory in Kochi in order to take India’s seafood exports to the next level.

 While unveiling the laboratory, Rameswar Teli, Union Minister of State for the Ministry of Food Processing Industries, said that the new laboratory at MPEDA headquarters would help the seafood sector overcome the stiff competition in the global export market, particularly on the quality front. 

Testing  at various stages to avoid rejection

MPEDA Chairman KS Srinivas said the laboratory would be used to test all sorts of seafood at various stages, including during production and prior to export, to avoid the presence of any bacteria. “It will ensure that exporters are not faced with rejection of their products by any country on the grounds of sub-standard quality,” he added.

Strigent  Quality Norms

 The laboratory was necessitated by the fact that the US, the European Union and other major seafood importers were tightening their quality norms on a regular basis in the interest of the health of their population. This has prompted India’s seafood exporters to go for enhancement of the quality of their products to survive the competition.

 Teli expressed the hope that all other sectors under the food processing industry, including tea growers in Assam and elsewhere, would go for such a laboratory to promote quality and give a fillip to exports.

MPEDA unveiled its laboratory on the third and final day of the 22nd India International Seafood Show organized jointly with the Seafood Export Association of India. 

MPEDA secretary B Sreekumar said the authority took just one year to set up the new lab from the conception stage. This microbiology laboratory would be in addition to the already existing conventional facilities.The other laboratories are in Kochi (Kerala), Bhimavaram and Nellore (Andhra Pradesh) and Bhubaneswar (Odisha).

Lab will help exporters take on global

Logistics

Funds will be used to strengthen technology backbone across the agricultural value chain

WayCool Foods has raised $32 Mn in a combination of equity and debt in its Series C round. The round was led by Lightbox and saw participation of FMO, the Dutch entrepreneurial development bank, as well as its current investor LGT Lightstone Aspada.

The company has also partnered with InnoVen Capital to raise venture debt as part of this round. Veda Corporate Advisors was the exclusive advisor to the transaction.

WayCool Foods procures, processes and distributes a wide range of food products including fresh produce, staples and dairy products, moving over 250 tonnes of food every day to 8,000 enterprise clients across Southern India.

The company operates a soil-to-sale model, engaging deeply with a base of nearly 40,000 farmers to improve farm income, while bringing efficiency through its direct supply chain model. The company has stated that it will use the funds raised to automate its supply chain and build the next layer of data analytics required to strengthen supply chain efficiency. It will also develop and expand its range of value-added products to enterprise and retail customers.

Karthik Jayaraman, Co-Founder and CEO, WayCool said, “We are committed to building a lean, efficient and profitable enterprise that makes social impact an integral part of its operations. Lightbox’s deep experience in technology and brand building will greatly help us as we strengthen our digital backbone, and our move into value-added products. FMO’s guidance will be of essence in building a culture of impact orientation across the organization and staying true to the course”.

Prashant Mehta, Partner at Lightbox said, “We have spent time with the remarkable team led by Karthik and Sanjay at WayCool and the community of farmers on their platform. We’re thrilled with the achievement and the focus they have on leveraging technology to solve the massive challenges in the food supply chain. We look forward to working with them and positively impacting the livelihood of farmers and build a long-term sustainable business.”

WayCool is developing a range of branded products and currently has brands such as Freshey’s, Kitchenji, Madhuram and Shuddha. 

WayCool will also deploy its funds to deepen and widen ‘Outgrow’, its agricultural extension program. The company has recently announced the set-up of its first Agricultural Research Station, where it will collaborate with multiple startups to bring the most relevant production technologies to its expanding farmer base.

Linda Broekhuizen, Chief Investment Officer at FMO, “We are proud to be a partner of WayCool. The company leverages technology and innovative concepts to improve logistics and distribution services. Therefore, value chains are optimized thereby realizing reduced food waste. The company is also highly impactful on the social side as it sources its produce from over 35,000 smallholder farmers that benefit from higher prices and improved yields. In addition to this, it provides employment to over 900 people. This is FMO’s first Agri Tech deal under the new Ventures Program, which focusses on Fintech, Off-Grid Energy, and Agri Tech. We look forward to supporting the company to become the largest and most impactful food logistics & distribution company of India.”

WayCool has previously raised two rounds of funding from Aspada, LGT Impact Ventures, Caspian Impact Investment, and Northern Arc Capital Ltd.

Funds will be used to strengthen technology

Environment, Nature, Trade

The company is hoping that its electric vehicles will reduce carbon emissions and environmental impact of delivery operations in the Asian country. 

Amazon is set to have 100,000 of the eco-friendly vehicles roaming the streets over the next decade. Company claims that it will save four million metric tons of carbon.  This move is to promote the ’Zero Carbon by 2030’, which is prevalent across the world in order to support the climate conservation drive.   

The 30-second clip shows Bezos hops into one of the vehicles, complete with a license plate that reads ’Jeff’, and leads a team of delivery drivers through a grassy area to show of the vehicle’s capabilities.

The tech tycoon commemorated the roll out by sharing a video shot in New Delhi on his social media pages with a post that reads, ‘Hey, India. We’re rolling out our new fleet of electric delivery rickshaws. Fully electric. Zero carbon. #ClimatePledge’. 

Amazon hopes its electric vehicles will reduce carbon emissions and environmental impact of delivery operations in the Asian country. ‘Amazon India has been working with several Indian OEMs to build a fleet of vehicles that ensure sustainable and safe deliveries of customer orders,’ the company mentioned in a statement.

 In addition, the government’s focus to encourage the adoption of electric vehicles in the country, and steps towards setting up of charging infrastructure with the FAME 2 policy has helped the company accelerate and chart its vision for EVs in India.’

In 2020, these vehicles will operate in over 20 cities of India – Delhi NCR, Bangalore, Hyderabad, Ahmedabad, Pune, Nagpur and Coimbatore to name a few, and this number will continue to grow.

Akhil Saxena, Vice President, Customer Fulfillment – APAC & Emerging Markets, Amazon, said ‘At Amazon India, we are committed to building a supply chain that will minimize the environmental impact of our operations.’

‘The expansion of our Electric Vehicle fleet to 10,000 vehicles by 2025 is an integral milestone in our journey to become an energy efficient leader in the industry.’

 ‘We will continue to invest in the electrification of our delivery fleet, thereby reducing our dependence on non-renewable resources.’

The company is hoping that its

Agrotech, E-commerce, Finance, Start ups, Trade

Funds will be used to strengthen technology backbone across the agricultural value chain

Chennai-headquartered WayCool Foods has raised U$32 Mn in a combination of equity and debt in its Series C round, the company said in a statement yesterday. The round was led by Lightbox and saw participation of FMO, the Dutch entrepreneurial development bank, as well as its current investor LGT Lightstone Aspada. The company has also partnered with InnoVen Capital to raise venture debt as part of this round. Veda Corporate Advisors was the exclusive advisor to the transaction. 

WayCool Foods is growing at a CAGR of 325%

WayCool Foods procures, processes and distributes a wide range of food products including fresh produce, staples and dairy products, moving over 250 tonnes of food every day to 8,000 enterprise clients across Southern India. The company operates a soil-to-sale model, engaging deeply with a base of nearly 40,000 farmers to improve farm income, while bringing efficiency through its direct supply chain model.

The company has stated that it will use the funds raised to automate its supply chain and build the next layer of data analytics required to strengthen supply chain efficiency. It will also develop and expand its range of value-added products to enterprise and retail customers.

Karthik Jayaraman, Co-Founder and CEO, WayCool said, “We are committed to building a lean, efficient and profitable enterprise that makes social impact an integral part of its operations. Lightbox’s deep experience in technology and brand building will greatly help us as we strengthen our digital backbone, and our move into value-added products. FMO’s guidance will be of essence in building a culture of impact orientation across the organization and staying true to the course.” 

WayCool is developing a range of branded products and currently has brands such as Freshey’s, Kitchenji, Madhuram and Shuddha. Given our direct relationships throughout the supply chain, it gives us the ability to better project demand and supply for products across various categories such as Fruits, Vegetables, Dairy, Staples, etc. 

“We have spent time with the remarkable team led by Karthik and Sanjay at WayCool and the community of farmers on their platform,” says Prashant Mehta, Partner at Lightbox. “We’re thrilled with the achievement and the focus they have on leveraging technology to solve the massive challenges in the food supply chain. We look forward to working with them and positively impacting the livelihood of farmers and build a long-term sustainable business.”

 WayCool will also deploy its funds to deepen and widen ‘Outgrow’, its agricultural extension program. The company has recently announced the set-up of its first Agricultural Research Station, where it will collaborate with multiple startups to bring the most relevant production technologies to its expanding farmer base.

Linda Broekhuizen, Chief Investment Officer at FMO, “We are proud to be a partner of WayCool. The company leverages technology and innovative concepts to improve logistics and distribution services. Therefore, value chains are optimized thereby realizing reduced food waste. The company is also highly impactful on the social side as it sources its produce from over 35,000 smallholder farmers that benefit from higher prices and improved yields. In addition to this, it provides employment to over 900 people. This is FMO’s first Agri Tech deal under the new Ventures Program, which focusses on Fintech, Off-Grid Energy, and Agri Tech. We look forward to supporting the company to become the largest and most impactful food logistics & Distribution Company of India.” 

WayCool has stated that it intends to accelerate its path to profitability and will focus on maintaining as well as further improving its lean, capital efficient model. WayCool has previously raised two rounds of funding from Aspada, LGT Impact Ventures, Caspian Impact Investment, and Northern Arc Capital Ltd.

 

Funds will be used to strengthen technology