India's online grocer FreshToHome picks up a deal in Abu Dhabi
Becomes third company ADIO has lined up to expand emirate's farming capabilities
Dubai: FreshToHome, the online grocery portal, will tap into financial and non-financial support from Abu Dhabi Investment Office. This comes just weeks after it bagged $121 million from a funding round that brought on board Investment Corporation of Dubai and Bahrain’s Investcorp.
In Abu Dhabi, FreshToHome will help with the emirate’s fast expanding ‘agritech’ capabilities. “We use cutting-edge research in AI and precision aquaculture for furthering food security in a sustainable manner,” said Shan Kadavil, CEO and co-founder of FreshToHome, which was launched in India and later expanded its reach into the UAE.
“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.”
Agri is big business
Abu Dhabi government entities had all through this year been adding to their agritech portfolio, committing direct investments in startups as well as expand the areas under farming.
ADIO has also partnered with Pure Harvest and Nanoracks, and together with FreshtoHome, the three companies will receive financial and non-financial incentives totaling Dh152 million.
In the UAE, it is one of the Top 5 e-grocers.