FreshToHome.com raises USD 20 million in series B funding

FreshToHome.com, the Bengaluru-based online fresh fish and meat retailer, announced on Monday it has secured USD 20 million in a Series B funding round led by Iron Pillar with the participation of Joe Hirao, the founder of ZIGExn, Japan. Tarun Khandelwal of Add Advisory Partners was the company's advisor on the round, the company said in a release.

FreshToHome also announced that it crossed USD 30 million (Rs 200 crore) in annualised direct to consumer sales, making it the largest such venture in the fish and meat e-commerce space in India. Also at 30 per cent month-on-month growth, Freshtohome is among the fastest growing e-grocery companies in India, it said.

FreshToHome has expanded to new markets in India such as Mumbai and Pune, and also ventured into the global market by launching its operations in the UAE. FreshToHome.com currently receives over 14,000 orders and processes around 20 tons of fresh food produce every day.

FreshToHome's Series B comes in hot on the heels of their recent Series A round where they had raised USD 11 million. Series A funding round was led by CE-Ventures, the corporate venture capital platform of Crescent Enterprises, a UAE headquartered conglomerate.

Existing investors, including CE-Ventures, Al Nassar Holdings, Massar International a large UAE-based growth investor and others participated in the USD 20 million Series B round. FreshToHome recently went offline and opened several outlets in Bengaluru and Chennai.

The company currently has 650,000 customers across nine cities in India and internationally across the UAE, the release added..