Bangalore, India-based fresh fish and meat delivery startup, has secured $121 million in fresh funding. The funding could be the largest in the Indian consumer tech scene to date. Investment Corporation of Dubai, DFC, Investcorp, Ascent Capital, and the Allana Group were amongst the investors in the Series C round.
99% of the fish and meat business on the Indian subcontinent comes from the unorganized players in the country. FreshToHome could change this just like Uber changed ride-hailing space. This is attracting quality investment from big firms. The investment from DFC in FreshToHome is its first in Indian equity.
“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 of FreshToHome.
The Bangalore-based company is poised to grow exponentially in the coming times, considering the sheer size of the market it is addressing. The e-tailer plans to use the funds to expand further in India and the Middle East region. FreshToHome is targeting $200 million in sales for 2021 while maintaining current EBITDA profitability.
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