Cofounder and head of growth Sanjay Dasari has stepped down from his executive post to take up an advisory role
In a post on LinkedIn, Dasari said he would be moving to San Francisco
WayCool is a full-stack agritech platform that connects farmers to retailers and other businesses in the food supply chain
After leading agritech startup WayCool
for nearly a decade, its cofounder and head of growth Sanjay Dasari has stepped down from his executive post to take up an advisory role.
In a post on LinkedIn, Dasari said he would be moving to San Francisco.
“Professionally, I’ll still be involved with WayCool in an advisory role, supporting strategic projects and fundraising efforts, but I’m stepping back from the day-to-day (operations) of the company I founded and the only job I’ve ever known,” his post read.
Moving forward, the Harvard Business School alumnus said that he will double down on his angel investments and startup mentorship efforts while simultaneously “weighing opportunities between operating and investing”.
As of now, it is not clear who will take the baton of the cofounder’s responsibilities.
Founded in 2015 by Dasari and Karthik Jayaraman, WayCool is a full-stack agritech platform that connects farmers to retailers and other businesses in the food supply chain. It is backed by investors like Lightrock, Lightsmith, Lightbox, IFC, among others. Most recently, the startup raised a debt of INR 100 Cr from Grand Anicut.
Last year, Dasaria shared WayCool’s plans to go for an initial public listing (IPO) by 2025 after generating a few profitable quarters.
As per its last disclosed financial report for the fiscal year 2022-23 (FY23), the startup’s net loss widened 88.7% to INR 685 Cr from INR 363 Cr in the previous fiscal year. Revenue from operations zoomed 62% to INR 1,251.4 Cr during the year under review.
Apart from the widening losses, WayCool also undertook multiple rounds of layoffs in 2024. In July, the agritech startup cut its workforce by 200, about five months after laying off 70 employees. It attributed the decision to its warehouse footprint rationalisation and efforts to achieve profitability.
