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India’s vegetable and meat start-up “FreshToHome” raises $121M

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FreshToHome is an Indian e-commerce platform whose business is to sell all kinds of meat such as Chicken & fish and also vegetables and fruits. The company is based out of Bangalore and has recently raised a whopping amount of USD 121 Million as fund in its latest funding round. According to the company reports, the sales have grown massively because of the COVID-19 pandemic which was followed by a lockdown.

Shan Kadavil, Co-founder and CEO of FreshToHome stated that the company offers its services in major metro cities in India like New Delhi, Hyderabad, Pune, Mumbai and Bangalore. Kadavil claims that FreshToHome processes an approximate of 2 million orders per month and there were close to 425,000 monthly orders last year in 2019.

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COVID-19 virus has refrained people from stepping out of their homes to avoid avoidable exposure. People have become cautious and generally refrain from standing in queues to buy vegetables and meat. FreshToHome is a modern solution and it is becoming increasingly popular in these trying times of the pandemic as it intends to urbanise farmers and fishermen for an exchange of commodity. The company claims to provide 100% contactless delivery of fresh vegetables and meat products with 0% chemicals involved that are directly delivered to consumer’s houses.

The platform is fairly easy to use and is very beneficial for farmers and fishermen as it allows bidding for the latest yields. This cuts out the need of middlemen which helps farmers and fishermen to quote their price without it reaching an expensive margin to the Indian consumers. Hence, the products will reach at a comparatively lower price to the end buyer, On the other hand, this system benefits FarmToFresh as they can now have complete control over the quality of the food that they are selling.

Furthermore, the vegetable and meat company also has its well-established supply chain network that transports items to the above-mentioned states either through trains or planes as needed. As much as the vegetable and meat market in India is unorganised, FreshToHome brings the perfect solution.

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The CEO alleges that the company is making an annual recurring revenue of approximately between USD 85-95 Million and it aims to reach $200 million next year with their boosted sales and profits. Kadavil commented that FreshToHome has become a profitable business (EBIDTA Profitable) which means that the company is in an overall profitable state excluding taxes, interests, amortization costs and depreciation costs.

The company already has working operations in the UAE and it further aims to expand its services in South Arabia. In India, the company will soon become fully operational in the state of Kolkata.

 

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