FreshToHome is an online provider of fresh, chemical and antibiotics free chicken, mutton and duck in India. The platform is an online marketplace for fresh livestock and delivers at your doorstep directly from farmers and fishermen.
Recently, FreshToHome has announced to raise monetary and non-monetary incentives from Abu Dhabi Investment Office or ADIO. Reports suggest that the company will utilise these freshly acquired funds in expanding its overseas market and developing advanced innovative technologies in agriculture and aquaculture domain in Abu Dhabi.
Analysts report that Abu Dhabi’s marketplace is growing rapidly in the Agriculture and Aquaculture domain and this is giving rise to new technologies and innovations. The Abu Dhabi Investment Office is supporting companies and Agricultural Technology start-ups to extend a helping hand in the advancements of the United Arab Emirates and adjoining regions.
Dr Tariq Bin Hendi, Director General of Abu Dhabi Investment Office mentions in a statement they aim to build an efficient environment for innovators to help them turn their ideas into brick and mortar reality. He further mentions about investing in FreshToHome, saying that the company is well rooted within the local Agriculture-tech network of Abu Dhabi and will continue to contribute to these ever-expanding capabilities of the Aquacultural and agricultural ecosystem, while benefitting investors, the nation, partners and support in fuelling the next stage of their growth.
FreshToHome has recently concluded its Series C funding round with USD 121 million raised from well-known investors of Dubai such as The Allana Group, Investment Corporation of Dubai (ICD), DFC, Investcorp, Iron Pillar and Ascent Capital.
Furthermore, the company has also made tie-ups with Agriculture-Technology start-ups- Pure Harvest and Nanoracks, as reported by YourStory.
Reports also suggest that along with FreshToHome, these two partner companies will also receive monetary and non-monetary incentives as a part of Abu Dhabi Investment Office’s efforts to expand agri-tech and aqua-tech operations in the UAE.
The ADIO is aiming to introduce cutting edge innovation across the entire agricultural and aquacultural value chain.
To paraphrase what Shan Kadavil, Co-founder and CEO of FreshToHome had to say about their latest funding, he mentioned that at FreshToHome, they leverage cutting edge Artificial Intelligence and precision aquacultural methods to enhance their sustainability in the domain and advance their food security while giving better value to the three tiers- consumers, farmers and fishermen.
He further added that the company will now be extending its AI-powered Virtual Commodities Exchange technology, its precision-based nano-aquaculture tech and e-grocery platform to Abu Dhabi and the entire United Arab Emirates, enhancing their technological advancements and food production rates.