startup funding

Online Meat Delivery Firm FreshToHome Raises $20 Mn in Funding led by Iron Pillar

freshtohome e1566822357197

Bengaluru, Aug 26 (PTI), the Bengaluru-based online fresh fish and meat retailer, announced on Monday it has secured USD 20 million in a Series B funding round led by Iron Pillar with the participation of Joe Hirao, the founder of ZIGExn, Japan.

Tarun Khandelwal of Add Advisory Partners was the company’s advisor on the round, the company said in a release.

FreshToHome also announced that it crossed USD 30 million (Rs 200 crore) in annualised direct to consumer sales, making it the largest such venture in the fish and meat e-commerce space in India.

freshtohome logoAlso at 30 per cent month-on-month growth, Freshtohome is among the fastest growing e-grocery companies in India, it said. currently receives over 14,000 orders and processes around 20 tons of fresh food produce every day.

FreshToHome has expanded to new markets in India such as Mumbai and Pune, and also ventured into the global market by launching its operations in the UAE.

FreshToHome’s Series B comes in hot on the heels of their recent Series A round where they had raised USD 11 million, which was led by CE-Ventures, the corporate venture capital platform of Crescent Enterprises, a UAE headquartered conglomerate.

Existing investors, including CE-Ventures, Al Nassar Holdings, Massar International a large UAE-based growth investor and others participated in the USD 20 million Series B round.

In March 2016, Zynga cofounder Mark Pincus made a debut in Indian startup ecosystem by investing an undisclosed amount in Freshtohome when Google India`s former head Rajan Anandan also participated in the round.

FreshToHome recently opened several brick-and-mortar outlets in Bengaluru and Chennai.

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The company currently has 650,000 customers across nine cities in India and internationally across the UAE, the release added. PTI RS

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