FreshToHome, a Bengaluru-based online marketplace for perishable goods like fish, poultry, mutton, steaks, and fillet, is looking to bring artificial intelligence (AI) and internet of things (IoT) into the cold chain, food safety and sourcing processes to make last mile delivery of perishables safe, and storage chemical-free at an affordable cost.
The chief executive officer of the company, Shan Kadavil, informs that overall, the cold chain market for perishable products logistics is projected to reach Rs 2,618 billion by 2024, growing at a CAGR of 14.8 per cent during 2019-2024 in the country. Yet, the traditional supply chain is contaminated with chemical-based storage and logistics processes.
Founded in 2015 by Kadavil and Mathew Joseph along with a team of key people from Zynga, the company is backed by angel investors such as Rajan Anandan, Mark Pincus, David Krane, among others. In November 2018, the company closed its ‘Series A’ funding round of $11 million led by CE Ventures.
FreshToHome.com is also using the funding to further strengthen the sourcing supply chain by extending its patent-pending sourcing technology to fisherman and farmers across India.