FreshToHome Raises $121 million in Biggest Ever Consumer Tech Series C Funding
Bangalore based consumer focused omnichannel meat and seafood startup FreshToHome has raised $121 million in series C financing round led by Investment Corp. of Dubai (ICD), the principal investment arm of the government of Dubai. This was ICD’s first equity investment in India. Additionally Investcorp, Ascent Capital, the U.S. government’s development finance institution (DFC) and the Allana Group also participated in the round which is being touted as the largest ever series C capital raise for an Indian consumer oriented startup. FreshToHome’s existing investor Iron Pillar, which had led the company’s series B round of funding has invested $19 million in the current round of capital raise.
Having raised a collective amount of $154 million till date, FreshToHome intends to utilize the fresh infusion of capital to establish a stronger presence in the Indian and Middle East market.
Founded in 2015 FreshToHome delivers fresh vegetables, fruits, poultry and seafood across Bangalore, Delhi, Mumbai, Pune, Chennai, Hyderabad, Cochin, Trivandrum, Calicut and Thrissur.
Founded by ex-Zynga employee Shan Kadavil, the company deals directly with fisherman and farmers which helps ensure quality and affordability. FreshToHome addresses the key issues of hygiene, convenience, use of preservative chemicals/antibiotics, and providing fresh and great quality produce to end consumers.
Building on a huge opportunity in the Indian meat and seafood market, FreshToHome is gearing towards achieving $200 million in sales by 2021. “We are just beginning to scratch the surface of a very large market and the current capital raise will help us realize our full potential through rapid expansion in India and the Middle East," said Shan Kadavil, co-founder and CEO, FreshToHome.
“FreshToHome is a leader in leveraging AI-based technology and business innovation to bring a superior value proposition to customers and suppliers in a large and important market,” said Khalifa Al Daboos, deputy CEO, Investment Corporation of Dubai, in a statement.
Founded in 2015 FreshToHome delivers fresh vegetables, fruits, poultry and seafood across Bangalore, Delhi, Mumbai, Pune, Chennai, Hyderabad, Cochin, Trivandrum, Calicut and Thrissur.
Founded by ex-Zynga employee Shan Kadavil, the company deals directly with fisherman and farmers which helps ensure quality and affordability. FreshToHome addresses the key issues of hygiene, convenience, use of preservative chemicals/antibiotics, and providing fresh and great quality produce to end consumers.
Building on a huge opportunity in the Indian meat and seafood market, FreshToHome is gearing towards achieving $200 million in sales by 2021. “We are just beginning to scratch the surface of a very large market and the current capital raise will help us realize our full potential through rapid expansion in India and the Middle East," said Shan Kadavil, co-founder and CEO, FreshToHome.
“FreshToHome is a leader in leveraging AI-based technology and business innovation to bring a superior value proposition to customers and suppliers in a large and important market,” said Khalifa Al Daboos, deputy CEO, Investment Corporation of Dubai, in a statement.
