<p>FreshToHome, an online brand in fresh fish and meat e-commerce, on Tuesday said it has raised $121 million (about Rs 890.8 crore) in funding led by Investment Corporation of Dubai, Investcorp, Ascent Capital, DFC, Allana Group and other investors.</p>.<p>Iron Pillar, the lead investor from the previous series B round, also participated in this round (series C) with an investment of USD 19 million, a statement said.</p>.<p>Barclays was the advisor for the transaction, it added.</p>.<p>Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai, while Investcorp is a global manager of alternative investments and DFC is a US government development finance institution.</p>.<p>Covid-19 transformed the fish and meat purchasing behaviour of consumers dramatically and due to safety concerns, consumers made the habit-forming shift to e-commerce, FreshToHome co-founder and CEO Shan Kadavil said.</p>.<p>"...we saw online demand for our products going up many folds this year...We are just beginning to scratch the surface of a very large market and the current capital raise will help us realise our full potential through rapid expansion in India and the Middle East," he added.</p>.<p>According to a report by Euromonitor International, the consumer market size of fish and meat segment in India in 2019 was estimated to be at USD 94 billion.</p>.<p>FreshToHome claims to be the world's largest fully integrated online brand in fresh fish and meat e-commerce, with approximately 1.5 million B2C orders per month and USD 85 million (about Rs 600 crore) annualised sales run rate on the platform.</p>.<p>FreshToHome enables its marketplace sellers to source and sells high-quality meat and fish directly from livestock farmers and fishermen in most major Indian cities and the UAE.</p>.<p>Some of the early backers of FreshToHome include Mark Pincus (Zynga founder), David Krane (CEO of Google Ventures), Pete Briger (Chairman of Fortress), Abdul Aziz Al-Ghurair (Chairman of Mashreq Bank), Rajan Anandan of Sequoia and other renowned investors.</p>.<p>"DFC's first equity deal with FreshToHome demonstrates the power of our new equity tool to drive development and advance U.S. foreign policy," said US Government's DFC CEO Adam Boehler.</p>.<p>This project will support economic growth and strengthen agricultural supply chains in a key US partner, he added.</p>
<p>FreshToHome, an online brand in fresh fish and meat e-commerce, on Tuesday said it has raised $121 million (about Rs 890.8 crore) in funding led by Investment Corporation of Dubai, Investcorp, Ascent Capital, DFC, Allana Group and other investors.</p>.<p>Iron Pillar, the lead investor from the previous series B round, also participated in this round (series C) with an investment of USD 19 million, a statement said.</p>.<p>Barclays was the advisor for the transaction, it added.</p>.<p>Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai, while Investcorp is a global manager of alternative investments and DFC is a US government development finance institution.</p>.<p>Covid-19 transformed the fish and meat purchasing behaviour of consumers dramatically and due to safety concerns, consumers made the habit-forming shift to e-commerce, FreshToHome co-founder and CEO Shan Kadavil said.</p>.<p>"...we saw online demand for our products going up many folds this year...We are just beginning to scratch the surface of a very large market and the current capital raise will help us realise our full potential through rapid expansion in India and the Middle East," he added.</p>.<p>According to a report by Euromonitor International, the consumer market size of fish and meat segment in India in 2019 was estimated to be at USD 94 billion.</p>.<p>FreshToHome claims to be the world's largest fully integrated online brand in fresh fish and meat e-commerce, with approximately 1.5 million B2C orders per month and USD 85 million (about Rs 600 crore) annualised sales run rate on the platform.</p>.<p>FreshToHome enables its marketplace sellers to source and sells high-quality meat and fish directly from livestock farmers and fishermen in most major Indian cities and the UAE.</p>.<p>Some of the early backers of FreshToHome include Mark Pincus (Zynga founder), David Krane (CEO of Google Ventures), Pete Briger (Chairman of Fortress), Abdul Aziz Al-Ghurair (Chairman of Mashreq Bank), Rajan Anandan of Sequoia and other renowned investors.</p>.<p>"DFC's first equity deal with FreshToHome demonstrates the power of our new equity tool to drive development and advance U.S. foreign policy," said US Government's DFC CEO Adam Boehler.</p>.<p>This project will support economic growth and strengthen agricultural supply chains in a key US partner, he added.</p>