Bengaluru based FreshToHome, a fully integrated online brand in fresh fish and meat e-commerce, has raised $121 million in Series C funding led by Investment Corporation of Dubai (ICD) - the principal investment arm of the Government of Dubai, Investcorp - a leading global manager of alternative investments, Ascent Capital - a leading India-focused growth capital provider, US Government's development finance institution - DFC, the Allana Group and other investors. Iron Pillar, the lead investor from Series B participated in this round with a significant investment of $19 million. Barclays was an advisor for the transaction.
FreshToHome has approximately 1.5 million B2C orders per month and $85 million (Rs 600 Crore) annualized sales on the platform.
Shan Kadavil and other co-founders of FreshToHome have a Silicon Valley entrepreneurship background, having been part of leadership teams of companies such as Zynga. Some of the early backers of FreshToHome include Mark Pincus - Zynga founder, David Krane - CEO of Google Ventures, Pete Briger - Chairman of Fortress, Abdul Aziz Al-Ghurair - Chairman of Mashreq Bank, Rajan Anandan of Sequoia and other renowned investors.
Support from its existing large Middle East-based investors such as CE-Ventures - the corporate venture capital platform of Crescent Enterprises significantly helped in aiding its expansion in the UAE, where it is already one of the top 5 e-grocers.