FreshToHome to add organic vegetables and fish farms to its portfolio
Category: #retail  By Pankaj Singh  Date: 2019-05-27
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FreshToHome to add organic vegetables and fish farms to its portfolio

Reports confirm that FreshToHome, a Bengaluru-based online marketplace for fresh fish and livestock produce, has recently secured $11 million funding and is ready to add mega fish farms and organic vegetables to its portfolio.

According to CEO of FreshToHome, Shan Kadavil, he is looking to change the huge perishable goods network. Kadavil aims to bring internet of things (IoT) and artificial intelligence (AI) into the food safety, cold chain, and sourcing processes. He wishes to make last mile delivery of perishable products safe, and storage chemical-free at a cost-effective price.

Sources familiar with the matter mentioned that in November 2018, the company had ended its Series A round of funding, securing $11 million led by CE Ventures along with active participation from Kortschak Investments, M&S Partners, TTCER Partners, Abdul Azeez Al-Ghurair & Al-Nasser Holdings from UAE, Das Capital, PLB and other Asia and Valley-based Investors.

Supposedly, the company is planning to develop a food park to build high-tech fish farms and has been farming about 60 tonnes of sea food at such farms. It is also aiming to target the organic vegetables sectors, by making these chemical-free crops more affordable in the coming months.

Seemingly, the company is presently operating in Kerala, Bengaluru, Chennai, Delhi/ NCR, and Dubai and it is now planning to expand its operations in all Tier 1 cities of India including Pune, Mumbai, and Hyderabad. FreshToHome.com would also use its funding to further support the sourcing supply chain by providing its patent-pending sourcing technology to farmers and fisherman all over India.

Revenues from the perishable goods logistics for the cold chain market is anticipated to exceed INR 2,618 billion by 2024, exhibiting 14.8% CAGR from 2019-2024 in the country, sources added.

Apparently, the traditional supply chain is polluted with chemical-based logistics and storage processes and simultaneously, in the tremendous perishable goods network, only 30% of the industry runs under an organised platform.

However, the lack of transparency between the demand source and the supply chain, as well as inefficient logistics leads to over 40% wastage in this space, sources commented.

Source Credit: https://inc42.com/startups/with-funding-freshtohome-expands-to-offline-retail-adds-vegetables-to-the-basket/



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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