D2C meat start-up FreshToHome raises $104 million in Series D funding led by Amazon Smbhav Venture Fund

Direct-to-consumer (D2C) meat delivery brand FreshToHome has closed $104 million in Series D funding with Amazon Smbhav Venture Fund leading the round.

The round also saw participation from existing investors including Iron Pillar, Investcorp, Investment Corporation of Dubai, Ascent Capital and others. Meanwhile, new investors like E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka also participated in the round.

Founded in 2015, FreshToHome offers more than 2,000 products and operates in more than 160 cities across India and the UAE.

The current funding will strengthen FreshToHome’s mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable to millions of meat lovers, the company said in a statement.

FreshToHome has pioneered the revolution of making 100 per cent preservative and antibiotic-residue free fresh fish, seafood, meat and meat products accessible and affordable to all and that is our biggest USP, Shan Kadavil, CEO and co-founder, FreshToHome said. 

"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,” he added.

In 2020, the Bengaluru-based firm had raised $121 million in its Series C round, led by Dubai’s Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital and US Government’s development finance institution – DFC.

"Our vision with the $250 million 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,” an Amazon Smbhav Venture Fund spokesperson stated.

FreshToHome's technology-enabled platform, Commodities Exchange, empowers over 4,000 fishermen and farmers to electronically auction their produce for sale on the company's website.

This process eliminates middlemen and ensures that the customers get the best products within 24 to 36 hours of sourcing, the company said, adding that its core strength lies in the technology-enabled platform.

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