FreshToHome, a Bengaluru-based meat and seafood delivery platform, has secured ₹75 crore ($8.5 million) through a fresh debt round from Trifecta Venture as it accelerates expansion in the competitive quick commerce and fresh produce segments.
According to filings with the Registrar of Companies (RoC), the company’s board approved the issuance of 750 Non-Convertible Debentures (NCDs) to Trifecta Venture, with each debenture carrying a face value of ₹10 lakh. Through this structured financing, FreshToHome plans to deploy the capital toward two primary objectives.
First, the company will strengthen its working capital to ensure uninterrupted day-to-day operations across its extensive supply chain. Second, it will allocate funds for general corporate purposes, thereby supporting wider strategic initiatives and ongoing technology enhancements.
By choosing NCDs as the funding instrument, FreshToHome is actively preserving liquidity while avoiding immediate equity dilution, especially after closing its large Series D funding round last year. Founded in 2015 by Shan Kadavil and Matthew Joseph, the company has steadily transformed from a niche delivery service into a prominent regional player in the fresh food ecosystem.
At present, FreshToHome operates in nearly 160 cities across India and maintains a strong presence in the UAE. Moreover, in February 2024, the company strategically entered the ultra-fast delivery segment by launching 10–15 minute delivery services, positioning itself directly against quick commerce rivals such as Zepto and Blinkit.
In parallel, the startup continues to benefit from robust equity backing. So far, FreshToHome has raised more than $320 million in equity funding, including a $104 million Series D round led by the Amazon Smbhav Venture Fund.
Meanwhile, the company’s latest financial disclosures indicate gradual progress toward sustainability. For FY25, FreshToHome reported a 14% year-on-year increase in revenue, which rose to ₹421.33 crore from ₹369.55 crore in FY24. Additionally, the company narrowed its net losses to ₹146.32 crore, marking a 2.3% improvement compared to the ₹149.73 crore loss recorded in the previous year.
“The proceeds will be utilized to meet the company’s working capital requirements and for general corporate purposes,” the filing noted, clearly highlighting the firm’s emphasis on operational efficiency.
Overall, this debt infusion underscores FreshToHome’s disciplined capital strategy as it balances aggressive growth with financial prudence. As competition intensifies in quick commerce and fresh food delivery, the company’s focus on liquidity management, operational efficiency, and market expansion positions it to strengthen its standing in both India and international markets.
