Monday, May 16, 2022

FreshToHome raises Rs 892 crore

By Telangana Today

Published: Published Date - 07:23 PM, Tue - 27 October 20

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, said FreshToHome CEO 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, said FreshToHome CEO

Hyderabad: FreshToHome, an e-commerce portal selling fresh fish and meat raised $121 million (approximately Rs 892 crore) in Series C funding led by Investment Corporation of Dubai (ICD), Ascent Capital, US Government’s development finance institution — DFC, the Allana Group and other investors. Iron Pillar, the lead investor from Series B participated in this round with a significant investment of $19 million (approximately Rs 139 crore).

“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” said Shan Kadavil, co-founder and CEO, FreshToHome.

The company has 1.5 million (15 lakh) B2C orders per month and $85 million (approximately Rs 600 crore) annualized sales run rate on the platform. It serves in major Indian cities like Mumbai, Delhi/NCR, Bangalore, Hyderabad, Pune, Kerala and Tamil Nadu and also in the UAE.

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