Bengaluru Based ‘FreshToHome’ Plans On Rapid Expansion In India And The Middle East
FreshToHome, a Bengaluru-based fresh meat and fish e-tailer, has raised $121 million in a Series C funding led by Investment Corp. of Dubai (ICD).
ICD is the principal investment arm of the government of Dubai.
The funding round also saw participation from Investcorp, Ascent Capital, US International Development Finance Corp. (DFC) and Allana, besides a significant follow-on investment of $19 million from Series B lead investor Iron Pillar.
As per the startup, this was the largest Series C funding for any consumer tech startup in India, which the startup is planning to utilise for its rapid expansion in India and the Middle East.
Talking about this funding round, Shan Kadavil, co-founder and chief executive of FreshToHome, said,
“We are just beginning to scratch the surface of a very large market, and the current capital raise will help us realise our full potential through rapid expansion in India and the Middle East.”
FreshToHome directly sources fish and meat from fishermen and farmers and uses its patent-pending AI-powered supply chain technology.
The startup uses a cold chain network to cut down on middlemen, and reduce the transportation time to 24-36 hours.
FreshToHome has an annualised run rate of ₹600 crores and process 1.5 million orders every month on its website and app.
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