Online marketplace for perishable goods FreshToHome is raising a fresh round of capital from Ascent Capital India. FreshToHome Foods Private Limited has been granted the permission from stakeholders to offer and issue one or more tranches 3,16,712 non-cumulative optionally convertible redeemable preference shares (OCRPS) at a face value of INR 10 each and a premium of INR 3534.48 each worth $16.2 Mn to Ascent Capital Advisors.
FreshToHome aims to leverage artificial intelligence and the internet of things (IoT) into the cold chain, food safety and sourcing processes. The filings revealed that the company manages to sell nearly 10K tons of produce per year, and has close to 95% qualified cohort retention and doubling every year. The corporate affairs filing also added that FreshToHome has 12 Lakh registered.