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• Waycool, a leading Indian agritech company, has pivoted its business model from connecting farmers to retailers to becoming a fast-moving consumer goods (FMCG) company.
• This shift raises questions about the true potential of agritech to empower farmers and revolutionize Indian agriculture.

• While Waycool’s FMCG approach has proven profitable, it doesn’t address the core challenges faced by Indian farmers.

• The agritech sector may need to refocus on its original goals to deliver on its promises of agricultural transformation.

Indian Agritech Startup Waycool Pivots to FMCG

Reports indicate that Indian agritech startup Waycool has strayed far from its initial mission of empowering farmers.

Once a leader in connecting over 50,000 farmers across the country with retailers and restaurants for fresh produce, dairy, and grains, the Chennai-based company is now starting to resemble a traditional FMCG player.

This dramatic pivot is raising eyebrows within the agritech industry.

Can Others Replicate Waycool’s Success?
Waycool, which generated a significant $192 million in revenue by March 2024, has found success not through innovation in the agricultural sector, but by becoming a regular participant in the food supply chain.

This begs the question: is the much-hyped potential of agritech to improve farmer livelihoods and agricultural efficiency overstated?

While Waycool’s business model has demonstrably been profitable, it’s unclear whether other agritech startups can replicate this success without fundamentally addressing the challenges faced by Indian farmers. Issues like fragmented landholdings, lack of cold storage facilities, and limited access to credit continue to plague the agricultural sector.

Agritech Needs a Refocus.
Waycool’s story serves as a cautionary tale for the agritech sector. The industry may need to re-evaluate its focus.

While some companies, like Waycool, may find success in established markets, the true test of agritech lies in its ability to deliver on its initial promises: empowering farmers, improving agricultural efficiency, and transforming the Indian agricultural landscape.

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