FreshToHome In Talks For Fresh $130 Million Funding

BENGALURU: FreshToHome is finalising a $130-million round from a clutch of investors, including Investcorp, Saudi corporate venture capital firm Raed Ventures, Middle East Oils and Grains and US International Development Finance Corporation, as per three people aware of developments as well as regulatory filings. Existing investors Iron Pillar and Ascent Capital, and new backer David Wehner, chief financial officer of Facebook, also participated, filings showed separately. Ascent Capital has already invested about $16 million, while DFC has committed $20 million, the public disclosures showed. The funding round values the direct-to-consumer fresh foods firm at $380-$400 million post money, one of the people told ET. “The final deal contours are likely to close in the next few weeks,” the person said. The round reinforces investor appetite in the direct-to-home delivery segment, a business that accelerated after the outbreak. Investors have also been attracted by its focus on providing farmers and fishermen with capital and technology support. “They are now looking at expansion of both categories and cities with the new financing round.”