FreshToHome raises $104m with Amazon as lead investor

FreshToHome, an online marketplace, has closed $104m in Series D funding with Amazon Smbhav Venture Fund leading the round.

Existing investors including Iron Pillar, Investcorp, Investment Corporation of Dubai, Ascent Capital and others have also participated in this round.

New investors joining this round include E20 Investment, Mount Judi Ventures and Dallah Albaraka. JP Morgan was the placement agent to FreshToHome for the fundraise.

The funding will strengthen the brand’s mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable. Launched in 2015, the company operates in more than 160 cities in India and the UAE and offers over 2,000 certified fresh and chemical-free products.

“We are excited to have Amazon Smbhav Venture Fund lead our Series D funding round. 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,” said Shan Kadavil, CEO and co-founder, FreshToHome.

Amazon Smbhav Venture Fund, through its official spokesperson stated “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.”

Two years ago, FreshToHome raised $121m 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.

Read: World’s largest fish and meat retailer receives funding from Abu Dhabi