FreshToHome, the world's largest fully integrated online consumer brand for preservative and antibiotic-residue-free fresh fish and meat, has closed 104 million dollars in Series D funding with Amazon Smbhav Venture Fund leading the round. Existing investors in FreshToHome, including Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital, and others, have also participated in this round. New investors joining this round include E20 Investment, Mount Judi Ventures, and Dallah Albaraka. JP Morgan was the placement agent to FreshToHome for the fundraiser.
The current funding will strengthen FreshToHome's mission to make 100% preservative and antibiotic-residue-free fish, seafood, and meat accessible and affordable to millions of meat lovers. Launched in 2015, FreshToHome operates in 160+ cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products.
Shan Kadavil, chief executive officer and co-founder, FreshToHome, said, "We are excited to have Amazon Smbhav Venture Fund lead our Series D funding round. FreshToHome has pioneered the revolution of making 100% preservative, and antibiotic-residue-free fresh fish, seafood, meat, and meat products accessible and affordable to all, and that is our biggest USP. We are now a 'Proficorn' with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees, and investors, our focus is on profitability and sustainable value creation."
Amazon Smbhav Venture Fund, through its official spokesperson, stated "Our vision with the 250MM dollars Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology-enabled companies led by visionary founders. We are impressed with the FreshToHome management team led by Shan Kadavil and they have done some quality work in creating a robust technology-enabled supply chain and scalable backward integrated capabilities to serve both customers as well as farmers and fishers. We are excited to partner with FreshToHome for the next phase of its growth."
Two years ago, FreshToHome raised 121 million dollars in its Series C round, led by Dubai's Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital, and the U.S. Government's development finance institution – DFC.