Debt Funding Details
Meat and seafood delivery startup FreshToHome is raising ₹75 crore, or about $8.5 million, through a debt funding round led by Trifecta Venture. According to filings sourced from the Registrar of Companies, the company’s board has approved the issuance of 750 non-convertible debentures at a face value of ₹10 lakh each to Trifecta Venture.
Use of Proceeds
FreshToHome said the funds raised through the NCD issuance will be used to meet working capital requirements and for general corporate purposes. The debt infusion comes at a time when consumer internet startups are increasingly turning to structured debt to support operations amid tighter equity funding conditions.
Company Background
Founded in 2015 by Shan Kadavil and Matthew Joseph, FreshToHome operates an online platform focused on fresh meat and seafood. The Bengaluru-based company currently serves customers across around 160 cities in India and also has a presence in key markets in the United Arab Emirates.
Expansion Into Quick Commerce
In February last year, FreshToHome entered the quick commerce segment, launching a service promising delivery within 10 to 15 minutes. The move placed the company alongside a growing set of consumer brands experimenting with faster delivery models to drive frequency and customer retention.
Funding History
According to startup data intelligence platform TheKredible, FreshToHome has raised more than $320 million in equity funding to date. Its most recent equity round was a $104 million Series D, led by the Amazon Smbhav Venture Fund, with participation from E20 Investment Ltd, Mount Judi Ventures, and Dallah Albaraka.
Financial Performance
As per filings with the Registrar of Companies, FreshToHome reported a 12.3 percent year-on-year decline in revenue from operations to ₹369.55 crore in FY25, compared with ₹421.33 crore in FY24. During the same period, the company narrowed its net loss marginally to ₹146.32 crore from ₹149.73 crore in the previous year.
The latest debt raise underscores FreshToHome’s focus on sustaining operations and funding near-term requirements while navigating slower revenue growth and a challenging funding environment for consumer startups.
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