Seafood and meat brand Pescafresh secures $2 million funds from Elara India
- ByStartupStory | April 20, 2022
UK-based Elara India Opportunities Fund invested $2 million in direct-to-customer seafood and meat brand, Pescafresh, in its pre-Series A1 round.
The company intends to utilize the newly infused funds to increase its geographical footprint and enhance its technological know-how, in order to ameliorate customer experience. Also, the start-up plans to enter into calculated partnerships and widen its pan-India reach.
Founded in 2004 by Sangram Sawant, this Mumbai-based start-up provides home-delivery of fresh seafood and meat on the farm-to-fork business model. The brand owns the entire back-end supply chain, including cold chain control, procurement, processing and storage.
It includes Blume Ventures, and Rehan Yar Khan, managing partner at Orios Ventures, as its investors.
Sawant mentions in the press statement that Pescafresh, currently operating only in Mumbai, shall enter the Pune market in May. He also states that the three processing plants of the company will be completed by the end of this current financial year, enabling Pescafresh to expand to other Tier-1 cities like Delhi-NCR and Bengarulu.
The funding will aid Pescafresh to capture the opportunities that the Indian meat and seafood industry offers, keeping in mind that a large chunk of it is still unorganized. .
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