Investment represents Amazon Smbhav Venture Fund’s first direct foray into the D2C branded food space
FreshToHome now a ‘Proficorn’ with operating margin profitability
CEO & Co-Founder says “Focus is on profitability and sustainable value creation”
Dubai, UAE: FreshToHome, the world’s largest fully integrated online consumer brand for preservative and antibiotic-residue free fresh fish and meat, has closed $104 million 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 Ltd, Mount Judi Ventures and Dallah Albaraka. JP Morgan was the placement agent to FreshToHome for the fundraise.
FreshToHome operates in the UAE with a full-fledged sorting and processing centre, engaging a direct and indirect workforce of 400+ people. FreshToHome delivers across the UAE.
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, CEO & 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 $250M 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.”
FreshToHome’s core strengths lie in its brand which is recognized for its quality and consumer trust and in its technology-enabled offering – Commodities Exchange – which empowers over 4,000+ fishers and farmers to electronically auction their produce for sale on www.FreshToHome.com. This process ensures that customers get the best products within 24 – 36 hours of sourcing. Additionally, an end-to-end cold supply chain and 100+ quality checks for standard chemicals, antibiotics, and preservatives, make FreshToHome the most reliable brand for preservative and antibiotic-residue free fresh fish and meat. FreshToHome enables access to only safe and healthy products that adhere to national and international food regulatory standards and are certified by reputed agencies. These certifications are available on the brand’s website.
Two years ago, FreshToHome raised $121M in its Series C round, led by Dubai’s Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital and U.S. Government’s development finance institution – DFC.
