FreshToHome, a Bangalore, India-based integrated online fresh fish and meat e-commerce brand, raised $121M in Series C funding.
The round was led by Investment Corporation of Dubai (ICD), Investcorp, Ascent Capital, U.S. Government’s development finance institution – DFC, the Allana Group, CE-Ventures, and other investors. Iron Pillar, the lead investor from Series B participated in this round with an investment of $19M.
The company intends to use the funds to expand its business reach to other key GCC markets such as Saudi Arabia.
Led by Shan Kadavil, Co-Founder and CEO, FreshToHome enables its marketplace sellers to source and sell high-quality meat and fish directly from livestock farmers and fishermen in most major Indian cities (Mumbai, Delhi/NCR, Bangalore, Hyderabad, Pune, Kerala and Tamil Nadu) and in the UAE. The brand has approximately 1.5 Million (15 Lakh) B2C orders per month and $85M (~INR 600 Crore) annualized sales run rate on the platform.
Some of the early backers of the company include Mark Pincus – Zynga founder, David Krane – CEO of Google Ventures, Pete Briger – Chairman of Fortress, Abdul Aziz Al-Ghurair – Chairman of Mashreq Bank, Rajan Anandan of Sequoia and other renowned investors.