Online fish and meat seller, FreshToHome may get $130 million in a fresh round of funding from investors including Investcorp, Saudi venture capital firm Raed Ventures, Middle East Oils and Grains and US International Development Finance Corporation, a report in The Economic Times citing sources familiar with the matter said.
This would value the meat selling company at around $380-$400 million post-money, the report stated.
The Bengaluru-based online fresh food retailer had secured over $30 million in two rounds of funding last year led by Iron Pillar and CE-Ventures.
Current investors Iron Pillar and Ascent Capital, and a new backer, the chief financial officer of Facebook, also participated in the funding round, the report said.
FreshToHome's expansion could signal a rise in demand for meat products and meat-processing delivery businesses making a comeback after the coronavirus dented companies and food sectors over safety concerns.
FreshToHome currently operates in Chennai, Bengaluru, Delhi, NCR, Mumbai, Pune, Kochi and the United Arab Emirates and primarily competes with other meat delivery companies such as Licious, Bigbasket etc.
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