In 2023, Wheelocity introduced the concept of a business-to-consumer, or B2C, supply chain and has now secured its second investment: a $15 million round led by Lightspeed India Partners. Anicut Capital, Alteria Capital and the company’s founder, Selvam VMS, also participated in the round.
Like other produce supply chain startups in the country, Wheelocity sources food from local farmers, including fruits and vegetables. However, instead of reselling those products to other businesses, the company now provides a commerce and delivery platform where individuals can purchase produce and have it delivered it to over 3,500 rural and semi-rural cities in Tamil Nadu.
Prior to pivoting from a B2B to a B2C business model, Wheelocity provided its supply chain services to e-commerce giants like Instamart, Ninjacart and Blinki, which are backed and operated by some of the largest tech companies in India. However, since the switch, the company says its has reduced food waste while also limiting its environmental impact, using a fleet of electric three-wheelers to deliver its products to villages.
According to reporting from Tech in Asia, the fresh funding will help the startup to expand its services to some 20,000 towns and villages in southern India.
