India’s FreshToHome, an integrated e-commerce platform for fresh fish, meat, and seafood, has closed its Series D funding round at $104 million led by Amazon Smbhav Venture Fund, per a company announcement on Tuesday.
The fundraising was first reported by DealStreetAsia on Tuesday.
New investors in the round include E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka, FreshToHome said in a statement. Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), and Ascent Capital also joined the round.
JP Morgan acted as the placement agent to FreshToHome for the deal.
Founded in 2015 by S Kadavil, FreshToHome sells a range of seafood and meat through its online grocery platform. It also allows suppliers to sell their seafood and meat on the website. The startup currently operates in 160+ cities in India and the UAE and claims to offer more than 2,000 certified fresh and chemical-free products.
“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 & co-founder, FreshToHome.
The Bengaluru-headquartered meat company recently secured $50 million in its Series D round from global e-commerce giant Amazon and Investcorp, DealStreetAsia reported earlier this month citing data available with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
Other investors in the round were Abu Dhabi-based E20 Investment, Qatar Insurance Co, UAE-based growth investor Massar International, Al Tawfeek Development, and India-focused tech investor Iron Pillar.
The company last raised $121 million in its Series C funding round in October 2020 led by the Investment Corporation of Dubai (ICD), Ascent Capital, and the US government’s development finance institution DFC.