Bangalore's Seafood Delivery Startup FreshToHome Bags Funding to Expand Ops in Abu Dhabi
A meat and seafood delivery startup, FreshToHome reportedly has received financial and non-financial incentives from the Abu Dhabi Investment Office (ADIO) towards its endeavors in engendering innovation in desert agriculture and aquaculture in Abu Dhabi. Alongside FreshtoHome, the agritech companies such as Nanoracks and Pure Harvest together will receive a total funding of AED152 million ($41 million) to expand their operations in Abu Dhabi.
With the new deal, FreshToHome looks forward to capitalize on the burgeoning innovation ecosystem and infrastructure in the Emirates while also enabling regulations to drive cutting-edge innovation across the entire agriculture value chain. ADIO’s objective with forging these new partnerships is to accelerate the growth of Abu Dhabi’s agritech ecosystem through the AgTech Incentive Program.
“At FreshToHome, we use cutting-edge research in AI and precision aquaculture for furthering food security in a sustainable manner while also giving better value to consumers, fishermen and farmers. To this end, we intend to bring our US patent pending AI-powered Virtual Commodities Exchange technology, our e-grocery platform and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region. ADIO has been a terrific partner to us and we are thankful for their support in helping us be part of the vision,” said Shan Kadavil, Co-Founder & CEO, FreshToHome.
Previously, the company had raised $121 million in series C funding from Investment Corp. of Dubai (ICD), Investcorp, Ascent Capital, Allana Group and Iron Pillar. The round was touted as the largest ever series C capital raise for an Indian consumer oriented startup. Doubling down on its growth spurt, FreshToHome intends to expand into farming, supply chain and processing capabilities across precision agriculture and aquaculture in Abu Dhabi. Incentives brought on the table by ADIO will be leveraged towards research & tech development and to expand the existing capabilities in the Abu Dhabi agritech ecosystem.
Previously, the company had raised $121 million in series C funding from Investment Corp. of Dubai (ICD), Investcorp, Ascent Capital, Allana Group and Iron Pillar