Bahrain's Investcorp invests in India's FreshToHome
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Investcorp has invested in FreshToHome, one of the world’s largest fully integrated online brands in fresh fish and meat, the corporation has said.
The investment is part of a $121 million funding round alongside other prominent investors
Investcorp has been evaluating several potential opportunities that are beneficiaries of the COVID-19 led boost in e-commerce and health and hygiene awareness in India.
FreshToHome is a direct beneficiary of shifting demand from fish and meat purchases that have typically been made in the past at wet markets. FreshToHome’s brand promise of “100% Fresh and 0% Chemicals” was a big enabler of its growth during the COVID-19 pandemic.
As estimated by Euromonitor International, the consumer fish and meat segment in India in 2019 was a $94 billion market.
FreshToHome is one of the largest fully integrated e-commerce businesses with approximately 1.5 million B2C orders per month and $85 million annualized sales run rate on the platform.