Dubai: Agritech startup WayCool Foods on Thursday said it has acquired the IP of GramworkX and will invest $1 million in the company and another million in the following years, Karthik Jayaraman, cofounder & CEO, Waycool Foods told ET at the Food For Future Summit at the Dubai Expo 2020.

The integration of the GramworkX platform with WayCool will happen in about three to six months.

GramworkX is a cloud-based smart farm resource management tool, which helps farmers guide, optimise and monitor utilisation of water. It quantifies and provides analytical insights into water consumption patterns across fields and soil types and provides data support.

“We already have a farm management tool that we use to provide insights to farmers based on data collected from the India Meterological Department (IMD) and other organizations but the GramworkX platform will enable more precise prediction and analysis,” Jayaraman said.

He went on to add that this is particularly helpful when it comes to high value crops such as pomegranate.

“We provide crop-specific data and solutions as per the geographical location and soil type. We also have a feature of image-based disease detection,” KA Gopalakrishnan, co-founder, GramworkX said.

WayCool also is looking to launch their tech stack as a SaaS-based solution providing an end-to-end solution for companies or to address specific concerns – be it for farm management, shop floor management, logistics management, a B2B platform or as a B2C service.

“These were all issues that we needed to address and we built our technology around it,” Jayaraman said. “And within the next six months, we are looking to provide these as SaaS solutions to other players to help solve various issues that these companies may encounter.”

Recently, WayCool completed its investment of $7.5 million in SV Agri (SiddhiVinayak Agri Processing), a fully integrated player in the potato supply chain ecosystem.

The Chennai-based startup recently completed a $117 million Series D round led by existing and new investors including LightRock, LightBox, FMO, Lightsmith, World Bank Group’s — IFC, Redwood Equity Partners and Gawa Capital.

Last year, Waycool Foods said it was on track to report Rs 1,000 crore top line during the current financial year.

Dia Rekhi went to Dubai at the invitation of WayCool Foods.

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