India-based online fresh fish and poultry marketplace platform FreshToHome, has raised financial and non-financial incentives from the Abu Dhabi Investment Office (ADIO) to develop agritech projects in Abu Dhabi.
Founded in 2015, FreshToHome is an e-commerce marketplace that sells chicken, fish and other kinds of meat sourced directly from livestock farmers and fishermen. With the fresh funds, FreshToHome will be able to invest in next-generation aquaculture and agriculture solutions aimed at supporting food production in arid and desert climates.
“The rapid growth of Abu Dhabi’s [agritech] ecosystem is giving rise to new technologies supporting the advancement of the agriculture sector in the emirate, region and beyond. We have created an environment where innovators are supported to turn their ideas into reality. We look forward to working closely with FreshToHome in the coming months to create new innovations that will advance our goal of turning the desert green,” said Tariq Bin Hendi, director general of ADIO.
In addition to FreshToHome, ADIO has also partnered individually with two other Agritech companies, Pure Harvest and Nanoracks. Together with FreshtoHome, the three companies will receive financial and non-financial incentives totalling AED 152 million ($41 million) to expand their operations in Abu Dhabi and tap into the emirate’s innovation ecosystem.
“At FreshToHome, we use cutting-edge research in AI and precision aquaculture for furthering food security in a sustainable manner while also giving better value to consumers, fishermen and farmers. To this end, we intend to bring our US patent pending AI-powered Virtual Commodities Exchange technology, our e-grocery platform and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region. ADIO has been a terrific partner to us and we are thankful for their support in helping us be part of the vision,” said Shan Kadavil, CEO and co-founder of FreshToHome.
In October, FreshToHome had closed $121 million in India’s largest Series C investment in consumer tech with investment from Investment Corporation of Dubai (ICD), Bahrain-based Investcorp, US-based DFC, and India’s Ascent, the Allana Group and Iron Pillar.