Total amount raised
$256 Millions
Latest funding date
01/01/2024
Location
Freshtohome has successfully raised significant funding through multiple investment rounds, with notable investors including Dallah Investment and Amazon Smbhav Venture Fund. The platform specializes in delivering fresh and chemical-free chicken, meat, and seafood directly to customers' doorsteps.
Keep reading to explore the intricacies of Freshtohome's fundraising journey and the investors backing this innovative platform.
What Is Freshtohome?
Freshtohome, founded on August 1, 2015, is an e-commerce platform based in Bangalore, Karnataka, India. The company specializes in delivering fresh, chemical-free chicken, meat, and seafood directly to customers' doorsteps.
Founded by Shan Kadavil, Freshtohome ensures high standards of hygiene and quality by sourcing products from dedicated farmers and small boat fishermen. The platform offers a wide range of products, including fish, poultry, mutton, and ready-to-cook items.
With a workforce of 1001-5000 employees, Freshtohome continues to grow, providing convenient and reliable fresh meat and seafood delivery services to its customers.
How Much Funding Has Freshtohome Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2016
- Lead Investors: Das Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish a market presence.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: March 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial funding for product development and market entry.
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the customer base.
- Series A
- Amount Raised: $11M
- Date: May 2019
- Lead Investors: Crescent Enterprises Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: $20M
- Date: August 2019
- Lead Investors: Iron Pillar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To diversify product offerings and expand presence within India and overseas.
- Series C
- Amount Raised: $121M
- Date: August 2020
- Lead Investors: Investment Corporation of Dubai (ICD)
- Valuation at Round: $244M
- Motivation Behind the Round: For growth, expansion, marketing, and general corporate activities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Abu Dhabi Investment Office (ADIO)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market reach.
- Series D
- Amount Raised: $104M
- Date: February 2023
- Lead Investors: Amazon Smbhav Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support long-term growth and strategic initiatives.
Total Amount Raised: $256M. Current Valuation: $244M.
Key Investors
- Amazon Smbhav Venture Fund
- Details: Amazon Smbhav Venture Fund is a venture capital fund established by Amazon to support small and medium businesses in India. The fund aims to empower entrepreneurs and drive innovation in the Indian market.
- Investment Focus Areas: E-commerce, technology, logistics
- Notable Investments: Not publicly disclosed
- Abu Dhabi Investment Office (ADIO)
- Details: ADIO is a government entity that supports economic development in Abu Dhabi by attracting and facilitating investments. It provides financial and non-financial incentives to businesses.
- Investment Focus Areas: Economic development, technology, innovation
- Notable Investments: Not publicly disclosed
- Investment Corporation of Dubai (ICD)
- Details: ICD is the principal investment arm of the Government of Dubai. It manages a broad portfolio of assets across various sectors, both locally and internationally.
- Investment Focus Areas: Diversified investments across various sectors
- Notable Investments: Not publicly disclosed
- Iron Pillar
- Details: Iron Pillar is a venture growth investor that focuses on mid-stage technology companies in India. It aims to support companies in scaling their operations and achieving sustainable growth.
- Investment Focus Areas: Technology, growth-stage companies
- Notable Investments: Not publicly disclosed
- Crescent Enterprises Venture Capital
- Details: Crescent Enterprises Venture Capital is the investment arm of Crescent Enterprises, focusing on high-growth sectors. It aims to support innovative companies with strategic investments.
- Investment Focus Areas: Technology, logistics, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Freshtohome?
Freshtohome stands on the brink of significant growth opportunities, driven by a $16.2 million investment from Ascent Capital India. This funding will fuel their expansion within India and overseas, particularly in the UAE, and support their marketing and general corporate activities. The cold chain market for perishable products logistics in India, projected to reach INR 2,618 billion by 2024, presents a substantial opportunity for the company.
Future fundraising efforts are likely as Freshtohome continues to diversify its product offerings and scale operations. The company has a strong track record of attracting investment, having raised $31 million prior to this round. However, challenges such as competition from ZappFresh, Licious, and BigBasket, and managing logistics and food safety, remain significant hurdles.
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