Wheelocity Raises $12 Million In Series A Funding The company aims to leverage the fundraise to build new product offerings in farm side operations, helping its current customer base to scale rapidly and at the same time drive efficiencies within the fruits and vegetables supply chain

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Wheelocity, a supply chain network for fresh commerce, has raised $12 million in Series A funding round, led by Lightspeed. The round was a mix of equity and venture debt. It also saw the participation of Anicut Capital and other investors. The company aims to leverage the fundraise to build new product offerings in farm side operations, helping its current customer base to scale rapidly and at the same time drive efficiencies within the fruits and vegetables (F&V) supply chain.

"India is a fresh-food surplus country and despite that while on one hand we dump hundreds and thousands of tonnes of F&V every day due to supply chain inefficiencies, on the other hand, studies indicate more than 33 million Indians are undernourished. 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 and Anicut to solve this at scale," said Selvam VMS, founder and CEO, Wheelocity.

In less than a year since inception, Wheelocity has become operational in more than 12 cities handling close to 700 tonnes of F&V every day, with more than 350-member team. While the business started with F&V, Wheelocity recognizes vast untapped potential in the dairy, seafood, meat and poultry sectors and has already started partnering with customers here. Over the next 12 months, Wheelocity further aims to reach over 30 more cities in India, claimed by the company 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. We are delighted to partner with the team and excited that their unique approach is being rewarded with increased trust from customers," said Rahul Taneja, partner, Lightspeed.

Established in 2021, Wheelocity leverages technology to help fresh commerce companies improve their customer experience by delivering unparalleled inventory availability, better quality and reduced wastage in the fresh supply chain, all of this at a better in class and cost.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

7 AI Tools That Help You Build a One-Person Business — and Make Money While You Sleep

Who needs a team? These seven AI tools let you automate everything, scale like a beast and reclaim your time.

Money & Finance

Make Money on Autopilot With These 5 Smart Passive Income Ideas

Five innovative ways to earn money even when you're sleeping.

Leadership

6 Creative Ways to Improve Internal Communications at Work

These creative internal communication hacks could be the secret weapon your team needs to boost productivity and actually enjoy staying in the loop.

Innovation

How to Make AI a Core Part of Your Business Strategy

Here's how to transform organizations through thoughtful AI implementation.

News and Trends

Reliance Industries Q4 Beats Estimates: Profit Hits INR 19,407 Crore, Revenue Soars to INR 2.64 Lakh Crore

Reliance also crossed a new milestone, becoming the first Indian company to surpass INR 10 lakh crore in net worth.