The online grocery delivery segment has seen accelerated traction and subsequently, increased investor interest since the Covid-19 outbreak. Bengaluru-based FreshToHome Foods is the latest company to join the fundraising bandwagon in the segment.
The startup, which retails fresh fish and meat online, is in line to raise $36.2 million from homegrown private equity firm Ascent Capital and US International Development Finance Corporation (DFC).
While Ascent Capital has already invested $16.2 million in the startup, DFC has made a commitment of $20 million, regulatory filings showed.
The fundraise is reportedly part of a $130 million round, which is expected to see participation from Investcorp, Saudi corporate venture capital firm Raed Ventures, Middle East Oils and Grains.
Returning investor Iron Pillar and new backer David Wehner, CFO of Facebook, will also be part of the round, The Economic Times reported, citing sources. The round is expected to value the startup at $380-$400 million post money, it said.
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