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Amazon Commences to Support Indian Meat Startup FreshtoHome

CIO Insider Team | Wednesday, 22 February, 2023
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Amazon has expressed interest in becoming a supporter of the Indian firm FreshToHome, which delivers fresh fish and meat to customers in the Middle East and South Asian markets.

The startup with its headquarters in Bangalore received a $104 million Series D fundraising round from Amazon, the two companies announced this week. Amazon led the deal through its India-focused Smbhav Venture Fund.

The government of Dubai and Iron Pillar both contributed to the startup's latest round of funding, which also included support from the American government's development agency.

In addition to expanding its retail stores from 30 to 130 over the course of the following 12 months, the company will further penetrate India's 160 cities.

The $250 million Smbhav Venture Fund has now written its largest check. FreshToHome has now raised more than $250 million overall thanks to the latest round.

An investment in FreshToHome might be Amazon's way of temporarily yielding the meat and fish industry to the startup.

FreshToHome, founded in 2015, is one of the major competitors vying for a piece of the $100 billion Indian fish and meat market. The majority of Indians are not vegetarians, but the market is now run using a time-honored methodology.

With its own meticulous processing facilities and extensive supply chain network, FreshToHome is bringing efficiency to the market by streamlining the infrastructure for sourcing meat and fish and enhancing the quality of the food and their delivery times.

But building customer trust is one of the major obstacles for FreshToHome and a few other firms competing for the same $100 billion Indian meat market. In India, the wet market accounts for the lion's share of all sales of meat and fish since it allows clients to examine each item before parting with their money.

More than 4,000 farmers and fishermen are being served by FreshToHome, which also provides millions of customers with more than 2,000 certified fresh and chemical-free products in more than 160 locations in India and the UAE.

As it has improved its logistics system in the South Asian market, Amazon has recently expanded into the grocery and fresh categories in India. Yet as it struggles with the state of the global market, the American powerhouse has recently pulled back from a number of business ventures in the nation.

An investment in FreshToHome might be Amazon's way of temporarily yielding the meat and fish industry to the startup.

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