Dutch lender FMO weighs $5.2m investment in Indian agritech company

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Dutch development bank FMO is considering a $5.2 million investment in Indian agritech company Waycool Foods & Products, according to a disclosure.

Established in 2015, Waycool focuses on supply chain technology and automation to improve logistics and distribution services, reduce food waste, increase farmer income and improve produce quality.

The company, which now operates in multiple states in south India, including Tamil Nadu, Karnataka, and Andhra Pradesh, aims to build India’s largest agri-food platform.

FMO said that its proposed equity investment will support Waycool’s operations, expansion, capex and working capital needs.

Founded in 1970, FMO has a committed portfolio of 9.2 billion euros, with investments in more than 85 countries supporting sustainable private sector growth in developing and emerging markets by investing in businesses, projects, and financial institutions.

In India, most recently, FMO has proposed extending a $40-million loan to Jaipur-based non-banking finance company Esskay Fincorp Limited (Ess Kay).

In September, the Dutch lender proposed a €7.5-million ($8.3 million) investment in Sahyadri Farmers Producer Co (Sahyadri), an India-based farmer organization with 7,000 members.

The Netherlands-based development investor expects its investments in India, its biggest investment destination, to touch 1 billion euros in the next four years, according to Mint.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.