FreshToHome raises Rs 892 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 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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