23 February 2023, NEW DELHI — FreshToHome, the world’s largest fully integrated online consumer brand for fresh fish and meat free of preservatives and antibiotic residues, has concluded a USD 104 million Series D fundraising round with Amazon Smbhav Venture Fund as the round’s leading investor. Ascent Capital, Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), and other current investors in FreshToHome also participated in this round. E20 Investment Ltd., Mount Judi Ventures, and Dallah Albaraka are among the new investors joining this round. FreshToHome’s placement agency for fundraising was JP Morgan.
With the present investment, FreshToHome will be better equipped to fulfill its aim of providing millions of meat lovers with 100% preservative- and antibiotic-residue-free fish, shellfish, and meat. FreshToHome, a 2015 startup, operates in more than 160 locations throughout India and the UAE and provides more than 2,000 goods guaranteed to be fresh and chemical-free.
According to Shan Kadavil, CEO and co-founder of FreshToHome, “Our Series D fundraising round will be led by Amazon Smbhav Venture Fund, which excites us. Our main USP is the revolution we’ve started to make 100% preservative- and antibiotic-residue-free fresh fish, shellfish, meat, and meat products available and affordable to everyone. With operational profitability, we are now a “Proficorn.” We emphasize profitability and sustained value creation as we work to provide greater value to our farmers and fishermen, consumers, staff, and investors.”
Via a spokeswoman for the organization, Amazon Smbhav Venture Fund stated:
“With the USD 250MM Amazon Smbhav Venture Fund, we aim to support the next wave of technologically advanced businesses with inventive entrepreneurs. We are delighted with the management team at FreshToHome, led by Shan Kadavil. They have produced excellent work in building a solid supply chain that is technology-enabled and scalable backward-integrated capabilities to serve customers, farmers, and fishermen. For its next expansion stage, we are thrilled to collaborate with FreshToHome.”
The brand promise of FreshToHome for its quality and customer trust, as well as its technology-enabled service, Commodities Exchange, which enables more than 4,000 fishers and farmers to auction their catch for sale electronically, are the company’s main strengths.
In its Series C round, headed by Dubai’s Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital, and DFC, the U.S. Government’s development financing organization, FreshToHome raised USD 121MM two years ago.
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