11:52AM, Tuesday 28th March 2023

India Startup: wheelocity raises $12 million.

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As it prepares to grow its product offerings and employees, Wheelocity, an early-stage supply chain firm that manages fresh food supplies for rapid commerce platforms in India, has raised $12 million in a new financing round.

The business's Series A fundraising was overseen by Lightspeed India Partners and consisted of 80% ownership and 20% venture debt, according to the startup. A few other investors, including Anicut Capital, also invested in the round.

Wheelocity, a rapid commerce company founded in September 2021, offers fresh food supply chains to businesses. According to the business, its supply chain network incorporates logistics, last-mile hubs, fulfillment and warehouses, and collecting hubs.

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