Bangalore, India-based FreshToHome announced on 24 February the closing of a USD 104 million (EUR 98 million) leading in its Series D funding round from Amazon's Smbhav Venture Fund.
FreshToHome is an online platform selling fresh fish and meat. Launched in 2015, it now operates in more than 160 cities across India and the United Arab Emirates and offers more than 2,000 products, including numerous seafood options.
The new funding will be allocated towards strengthening the FreshToHome mission of distributing products are preservative- and antibiotic-free fish and meat, the company said.
"FreshToHome has pioneered the revolution of making 100 percent preservative and antibiotic residue free fresh fish, seafood, meat, and meat products accessible and affordable to all and that is our biggest [unique selling proposition]. We are now a 'Proficorn' with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees and investors, our focus is on profitability and sustainable value creation,” FreshToHome CEO and Co-founder Shan Kadavil said,
Current investors include Iron Pillar, Investcorp, Investment Corporation of Dubai, Ascent Capital, E20 Investment Ltd, Mount Judi Ventures, Dallah Albaraka, and JP Morgan.
"Our vision with the USD 250 million [EUR 236 million] Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology enabled companies led by visionary founders," an Amazon Smbhav Venture Fund spokesperson said. "We are impressed with the FreshToHome management team led by Shan Kadavil and they have done some quality work in creating a robust technology enabled supply chain and scalable backward integrated capabilities to serve both customers as well as farmers and fishers. We are excited to partner with FreshToHome for the next phase of its growth."
Photo courtesy of FreshToHome
