Bengaluru-based meat and seafood delivery startup FreshToHome is set to raise Rs 75 crore, or approximately $8.5 million, through a debt funding round. The capital will be mobilised from Trifecta Venture, marking another significant step in the company’s efforts to support its operational needs and sustain growth.
Board Clears Issuance of Non-Convertible Debentures
FreshToHome’s board has approved the issuance of 750 non-convertible debentures to Trifecta Venture. Each debenture carries a face value of Rs 10 lakh, taking the total fundraise to Rs 75 crore. The development has been disclosed through filings sourced from the Registrar of Companies.
According to the filings, the funds raised through this debt round will be used primarily to meet the company’s working capital requirements. A portion of the proceeds will also be allocated for general corporate purposes, providing the company with added financial flexibility as it continues to scale its operations.
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Focus on Sustaining Day-to-Day Business Needs
The decision to raise debt, rather than equity, indicates FreshToHome’s intent to support its immediate operational needs without diluting existing shareholding. Working capital remains a critical requirement for businesses operating in the fresh food and quick commerce segments, where inventory management, logistics, and last-mile delivery demand continuous investment.
By securing this funding, the company aims to maintain smooth operations across its supply chain, which includes sourcing, processing, and delivering fresh meat and seafood to customers in a time-sensitive manner.
Expanding Footprint Across India and the UAE
Founded in 2015 by Shan Kadavil and Matthew Joseph, FreshToHome has built a strong presence in the online fresh food delivery space. The company currently operates across around 160 cities in India and has also established its presence in key markets in the United Arab Emirates.
Over the years, FreshToHome has focused on building an integrated supply chain to ensure freshness and quality. Its growing geographical reach reflects sustained demand for organised, online platforms in the traditionally unorganised meat and seafood market.
Entry Into Quick Commerce Segment
In February last year, FreshToHome expanded its service offerings by entering the quick commerce space. The company began offering deliveries within a 10 to 15-minute window, aligning itself with the rising consumer preference for faster fulfilment.
This move placed FreshToHome among a growing number of consumer brands experimenting with rapid delivery models. While the quick commerce segment requires significant operational efficiency, it also offers the potential to increase order frequency and customer engagement.
Strong Equity Backing Over the Years
FreshToHome has attracted substantial investor interest since its inception. According to startup data intelligence platform TheKredible, the company has raised over $320 million in equity funding to date.
Its most recent equity round was a $104 million Series D fundraise. The round was led by Amazon Smbhav Venture Fund and saw participation from E20 Investment Ltd, Mount Judi Ventures, and Dallah Albaraka. The funding helped strengthen the company’s balance sheet and supported its expansion initiatives.
Revenue Growth and Narrowing Losses
Financial disclosures filed with the Registrar of Companies show that FreshToHome recorded steady revenue growth in the most recent fiscal year. The company reported a 14 percent year-on-year increase in revenue from operations, which rose to Rs 421.33 crore in FY25 from Rs 369.55 crore in FY24.
During the same period, FreshToHome also managed to reduce its losses marginally. Net loss narrowed by 2.3 percent to Rs 146.32 crore in FY25, compared to Rs 149.73 crore in the previous financial year. The improvement suggests tighter cost controls even as the company continued to invest in growth and expansion.
Balancing Growth With Financial Discipline
The planned Rs 75 crore debt raise comes at a time when FreshToHome is balancing expansion with financial discipline. With a growing footprint, entry into quick commerce, and steady revenue growth, access to additional capital is expected to help the company manage short-term requirements while continuing to build its long-term business.
As FreshToHome strengthens its operations across India and overseas markets, the latest funding move underscores its focus on sustaining scale, improving efficiency, and supporting its core business without altering its ownership structure.
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