57 Stars leads $40M investment in food tech platform WayCool

WayCool marks the first transaction for 57 Stars Direct Impact Fund

57 Stars LLC, an independent global alternative investment firm targeting high-growth sectors driven by technological innovation, led a $40 million investment in Chennai-based food and agri-tech startup WayCool Foods & Products. The investment is the first transaction for 57 Stars Direct Impact Fund and the second investment for 57 Stars Global Innovation Fund 2 (GIF 2).

WayCool provides farmers with cohesive solutions, potentially increasing their income by up to 30% while reducing food waste by up to 70%. Through strict environmental, social, and governance (ESG) management, WayCool seeks to become energy-, water-, and carbon-neutral, further mitigating its environmental impact.

57 Stars’ investment exemplifies the firm’s commitment to sustainable development and its dedicated impact investing strategy, which seeks to deliver compelling financial returns alongside meaningful positive social and/or environmental impacts.

Image credit- shutterstock

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