Bengaluru-based online fish and meat grocer Fresh-ToHome has raised $20 million from Iron Pillar and Joe Hirao, the founder of Japanese life media platform ZIGExN.
The company said it would use the funds to expand in India and overseas, especially the UAE. FreshToHome operates in nine cities and has opened stores in Bengaluru and Chennai recently. It claims ₹200 crore in annualised sales. The company had raised $11 million in May as part of its first funding round, which was led by CE-Ventures, the corporate venture capital arm of Crescent Enterprises, a UAE-headquartered conglomerate.
“This is our first investment in the food-tech space and we wanted to be certain of the value offered by the brand and strong technology enabled moats for the business,” said Anand Prasanna, managing partner, Iron Pillar.
FreshToHome was clocking 14,000 orders a day already, said CEO Shan Kadavil.
“The perishables category is worth $250 billion. We recently crossed 14,000 orders a day, which reinforces our belief that if you give consumers safe to eat food at an honest price, you can create a brand that people love,” he said.
