FreshToHome raises $121 million to expand in the UAE, Saudi Arabia and India
FreshToHome, a fully integrated online brand in fresh fish and meat e-commerce, raised $121 million in Series C funding led by the Investment Corporation of Dubai (ICD) – the principal investment arm of the Government of Dubai.
Investcorp, Ascent Capital, DFC, the Allana Group, and other investors, and Iron Pillar, the lead investor from Series B, participated in this round with an investment of $19 million.
The company, through the funding, is targeting $200 million in sales in 2021, while maintaining current EBITDA profitability in mature cities through deeper supply chain integration on the platform. FreshToHome is also planning to expand to other key GCC markets, including Saudi Arabia.