PE Fund Investments
D2C online meat seller FreshToHome raises $104-M led by Amazon Smbhav Fund
Bengaluru-based online seller of fresh fish and meat FreshToHome has attracted USD 104 million in a Series D funding round led by Amazon Smbhav Venture Fund. Existing investors, including Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai) and Ascent Capital, also participated in this round. New investors include E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka. JP Morgan was the advisor to FreshToHome for the fundraise. Launched in 2015, FreshToHome operates in over 160 cities in India and the UAE. It offers more than 2,000 certified fresh and chemical-free products. The firm will use the fresh capital for expansion in the Middle East. The company claims to have an annual revenue run rate of INR 1,100 crore. In 2020, when FreshToHome raised USD 121 million in Series C round, led by Dubai's Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital and the US Government's development finance institution – DFC, the firm's valuation was about USD 400 million.
From the Venture Intelligence PE-VC Deal Database: Between May-2019 and Dec-2020, Freshtohome had raised over USD 172 M from Abu Dhabi Investment Office, Investment Corporation of Dubai, Iron Pillar, DFC, 6G Capital, Ascent Capital, DFC, CE-Ventures, Joe Hirao, M&S Partners, Das Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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