FreshToHome raises enough money for a huge expansion in UAE
Home delivery is one of the fastest-growing market segments. While other businesses are experiencing a decline due to the “coronavirus” crisis, the situation for online food ordering services and other FMCG products is as good as it gets. And this was once taken as a business idea by an Indian startup, which has grown into a big team operating in the UAE and India- FreshToHome. Let’s check out this company in more depth in our review today. And talk a little bit about their funding.
Table of contents:
- What is FreshToHome
- FreshToHome and its funding success
- FreshToHome’s Plans for the UAE Market
- FreshToHome Conclusion
What is FreshToHome
Launched in 2015, FreshToHome has emerged as one of the leading e-commerce stores in the UAE, supplying fresh and premium poultry, fish and seafood, meat, prepared products, seasonal goods, bakery, pantry, and grocery items at affordable prices.
FreshToHome is a homegrown business that caters to the tastes of different nationalities and supports the UAE economy as an innovative online food retailer. Some of the UAE’s leading investors, including Abu Dhabi Investment Authority (ADIO), ADQ, ICD, Crescent Enterprise Ventures, Massar, and others, have invested in FreshToHome through equity or discounts.
FreshToHome is on a journey to disrupt and change traditional commodities’ buying and selling processes and support the sustainable growth of independent and medium-sized suppliers.
Do not miss: How to invest: Trading on the stock market
As a strategic food company, FreshToHome is a critical player in ensuring continuity of food supply. They work with local farming and fishing communities to ensure a daily supply of fresh produce and provide fair rewards. FreshToHome business model supports income and job creation through trade and they are increasing the market share of food sourced from within the UAE. Growing market demand has enabled local suppliers to invest in new infrastructure and local talent.
From fisherman or farm to fork, they believe FreshToHome has set new standards for convenience, freshness, health, quality, hygiene and taste in the local UAE industry. Furthermore, FreshToHome provides only safe and healthy products that adhere to FSSAI standards and are certified by TUV and other reputed agencies. These certifications are available on the brand’s platform.
FreshToHome and its funding success
Read also: What is an impostor syndrome
Financial part of the FreshToHome is also experiencing the growth and it is no wonder.
FreshToHome claims to be the world’s largest fully integrated online fresh fish and meat e-commerce brand, with approximately 1.5 million B2C orders per month and $85 million in annual sales on the platform.
FreshToHome, a direct sales portal for fish and meat has raised $104 million in its latest funding round led by Amazon. Existing backers such as Investment Corporation of Dubai, ADQ and Bahrain’s Investcorp added their earlier stakes.
The portal, which started its operations by sourcing fresh catches directly from fishermen in India, operates in the UAE and has two physical branches in the Dubai Waterfront Market. With $104 million raised, FreshToHome has raised more than $240 million and sees the time as right for a major entry into Saudi Arabia and other markets.
FreshToHome’s Plans for the UAE Market
By leveraging AI-based technology and business innovation, FreshToHome delivers a superior value proposition to customers and suppliers in an economically important business sector. Using advanced technology, the company connects local farmers and fishermen directly to the cold chain system within minutes of harvesting or catching food.
FreshToHome uses algorithms to predict consumer supply and demand, leading to the emergence of just-in-time logistics and agriculture. This means they receive deliveries of produce as needed, rather than days or weeks before demand occurs. They are thus able to ensure continuous availability of products along with freshness and high quality; reducing waste and improving the overall economics of the unit.
FreshToHome is delivering efficiencies to the market by rationalizing meat and fish sourcing infrastructure and improving product quality and delivery time with its own rigorous processing plants and extensive supply chain network.
FreshToHome today serves more than 4,000 fishermen and farmers and millions of customers in over 160 cities in India and the UAE, offering more than 2,000 certified chemical-free fresh produce products. One of the other beneficial points is online retailing.
The market potential for FreshToHome expansion in the UAE is clear, as it is an innovative new way of selling fresh fish and meat in the UAE.
The world’s largest fully integrated online fresh fish and meat e-commerce brand, FreshToHome, will receive financial and non-financial incentives from the Abu Dhabi Investment Office (ADIO) to develop the Emirate’s agricultural technology (AgTech) capabilities.
FreshToHome will invest in aquaculture and next-generation agricultural solutions to support food production in arid and desert climates. In addition to FreshToHome, ADIO has also entered into individual partnerships with two other AgTech companies, Pure Harvest and Nanoracks. Together with FreshtoHome, the three companies will receive financial and non-financial incentives totaling 152 million dirhams ($41 million) to expand their operations in Abu Dhabi and leverage the emirate’s innovative ecosystem and robust infrastructure to bring advanced innovations throughout the agricultural value chain.
FreshToHome is the world’s largest fully integrated fresh fish and meat eCommerce platform. It is the world’s largest vertically integrated fish and meat eCommerce company, shipping over 2 million orders in all categories to over 190+ cities in India and the UAE. The platform allows partners to source meat and fish directly from livestock producers and fishermen and then deliver fresh produce at mass-market prices to all major markets in India and the Emirates.
To promote healthy eating among consumers, FreshToHome offers products that are 100% “clean label”, i.e. made from a few easily identifiable ingredients and free of chemicals, preservatives, antibiotic residues and food additives. All their products are tested and certified by top laboratories in the UAE.
In addition, while engaging with growing online communities through social media channels and emails, the company continually encourages its customers to make health choices at every step of the food system. Through its regular communication channels, it also shares healthy cooking tips and recipes to help our customers enjoy delicious food and good health.
It is beneficial start-up but now highly developed company with big ambitions and plans. FreshToHome will appear in other countries’ markets according to the company business forecast.