FreshToHome Plans $50 Million Fundraise
FreshToHome, the Bengaluru-based fresh meat and seafood online delivery platform, is seeking to raise $40–50 million to scale up and build its business in the Middle East. A notable regional family office has already pledged most of the money, and the rest of the capital is likely to come from existing investors within weeks.
The Middle East region is now a strategic growth region for FreshToHome since entering the market in 2019. Today, the company is present in major Gulf Cooperation Council (GCC) markets such as Dubai, Abu Dhabi, Sharjah, Saudi Arabia, and other emirates. While still its biggest market by far, the Gulf has turned out to have strong growth prospects because of huge demand for fresh, chemical-free meat and seafood offerings.
The proposed capital injection will be utilized to grow regional operations, improve supply chain infrastructure, and establish strategic alliances in the Middle East. The company also seeks to enhance its technology-enabled logistics to enable faster delivery and improved inventory management
FreshToHome has recorded impressive financial progress, generating a revenue growth of 15x in FY24, from ₹249 crore to ₹3,696 crore, and halving its net losses to around ₹150 crore. It comes after its $104 million Series D funding in 2023 by Amazon Smbhav Venture Fund and others.
Through this latest fundraise, FreshToHome aims to emerge as a top cross-border fresh food e-commerce player, riding on its tried and tested model in India and cornering a bigger slice of the Middle East market.
