FreshToHome raises Rs 892 crore in Series C funding

Bengaluru: Fresh fish and meat e-commerce platform FreshToHome on Tuesday said it has raised $121 million (approximately Rs 891.5 crore) in a Series C funding round.

The round was led by Investment Corporation of Dubai (ICD), Investcorp, Ascent Capital, the US government's development finance institution - DFC, the Allana Group and other investors.

Iron Pillar, the lead investor from Series B participated in this round with a significant investment of $19 million, FreshToHome said. "Covid-19 transformed the fish and meat purchasing behaviour of consumers dramatically. Due to safety concerns, consumers made the habit-forming shift to e-commerce and we saw online demand for our products going up many folds this year," Shan Kadavil, Co-Founder and CEO of FreshToHome, said in a statement. The company said that the capital will support fast-paced expansion of the brand in India and the Middle East.

"We are just beginning to scratch the surface of a very large market and the current capital raise will help us realize our full potential through rapid expansion in India and the Middle East," Kadavil said.