Dubai - The planned investment announced on October 29, will support infrastructure development and user acquisitions.
Published: Tue 29 Oct 2019, 2:00 PM
Updated: Wed 30 Oct 2019, 7:46 AM
India's online fresh fish and meat store freshtohome.com is set to invest Dh50 million in the UAE and Saudi Arabia over the next two years, creating 1,000 jobs, as the company formally launches operations in the UAE.
The planned investment announced on October 29, will support infrastructure development and user acquisitions, including backward integration on farming, with FreshToHome acting as a microfinancier to fishermen and farmers, and working closely with them to deploy the latest technologies to increase yields. The company currently has a food processing and storage facility in Umm Al Quwain, with a production capacity of 30 tonnes a day, and it is looking to add another facility in Dubai.
"With the support of our investor base, including lead investor in the Series A funding round CE-Ventures, we are investing heavily in the GCC market, and we aim to be the largest e-commerce fish and meat retailer in the region differentiated by quality and range of the products that we offer," said Shan Kadavil, CEO and Co-Founder, FreshToHome.
"UAE is a haven for food lovers and the demographics are ideally suited to our business operations. We see the country as the perfect platform to develop our business and launch operations in other GCC countries, especially Saudi Arabia."
The e-commerce platform serves one million customers across Bengaluru, Mumbai, Pune, New Delhi (and the National Capital Region), Chennai and parts of Kerala, with 45,000 orders per day.
waheedabbas@khaleejtimes.com
A Staff Reporter
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