Industry news
US, Dubai gov'ts invest in India's largest seafood home delivery platform
Datetime：2021-03-18The US and Dubai governments invested in India's -- if not the world's --largest online seafood and meat home delivery service towards the end of 2020.
As of October last year, FreshToHome claims to receive around 1.5 million orders per month, and is targeting sales of ＄200m in 2021.
Its series C fundraising raised ＄121m and was led by Investment Corporation of Dubai, Ascent Capital, the US International Developement Finance Corporation, and Indian food exporter Allana Group.
Iron Pillar-- the lead investor in FreshToHome's previous fundraise, which made ＄20m in August 2019--invested once again.
The capital will be used to support the company's expansion in Indian and the Middle East, which plans to also launch in Saudi Arabia.
Shan Kadavil, co-founder and CEO of FreshToHome, said COVID-19 had dramatically changed the fish purchasing behavior of consumers, pushing online demand up "manyfold".
News Source: UCN
