FreshToHome.com, the Bengaluru based online fresh fish and meat retailer, has raised $20 million in a Series B Funding round led by Iron Pillar with the participation of Joe Hirao, the founder of ZIGExn, Japan.
The funds will be used by FreshToHome to expand into other Indian cities as well as to the UAE. The company may add more products to its basket keeping the theme of ‘100% fresh, 0% chemical’ as the basis. These could include fruits and vegetables, cold pressed oils, organic cow and buffalo milk, dairy products, organic staples and other healthy food products.
Shan Kadavil CEO of FreshToHome says, “I’m thrilled about the support we are receiving from the investor community - I think this is a reflection of the market strength in India and the disruption that technology can bring about in modernizing India’s food supply chain. We are just getting started and with a USD 250 Billion market size in front of us in the perishables category alone in India - this is just the tip of the iceberg. We recently crossed 14,000 orders a day - this reinforces our belief that if you give consumers safe to eat food at an honest price, you can create a brand loved by thousands thanks to our loyal customers, fishermen and farmers who trade or farm directly on our platform!”
The startup claims to have a capacity process around 20 tons of fresh food every day and is currently able to service around 14,000 orders daily. These are spread around Bengaluru, Pune and Mumbai and six more cities in India and the UAE overseas where the company has recently ventured.
It has also announced that it has cross Rs 200 crore mark in annualized direct to consumer sales and is clocking an increase of 30% month on month.
FreshToHome has also moved to the offline territory by opening brick and mortar outlets in cities like Bangalore and Chennai. The company claims a customer base of 650,000.
The foodtech startup empoys technology through the entire supply chain involving around 1500 fishermen and farmers from whom the produce is procured, the cold storage arrangements and the final deliveries to the customers.
The company offers a range of 150 products, which include varieties of fresh chemical free Fish, antibiotic-residue free Chicken, Tender Mutton, ready to cook products and much more.