The corporate will use the recent capital to spend money on geographical expansions and technological intervention that may enhance the general buyer expertise, to forge strategic partnerships and growth of the model’s attain, the corporate stated in a press assertion.
“Pescafresh, which is presently current in Mumbai, will enter the Pune market in Might and also will quickly kick begin its operations in Delhi NCR and Bengaluru,” it stated.
Based in 2004 by Sangram Sawant, Pescafresh features on the farm-to-fork enterprise mannequin. The model owns your complete back-end provide chain, together with chilly chain management, procurement, processing and storage. The corporate is seeking to introduce 100 new merchandise.
The corporate is constructing three processing crops that will likely be accomplished by the tip of this calendar 12 months, it stated.
“We intention to leverage our processing capacities and develop into newer Tier-I markets by the tip of the present monetary 12 months,” stated Sangram Sawant, founder, Pescafresh.
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In keeping with trade knowledge, 92% of the Indian meat and seafood trade is unorganised, indicating the massive alternative that this sector has to supply. India consumes meat price round $30 billion a 12 months.
There was rising investor curiosity within the on-demand meals phase, particularly within the meat and seafood class. Pescafresh competes with different established gamers similar to Zappfresh, FreshtoHome, Licious in the identical phase.
Final 12 months, Licious entered the coveted unicorn membership of corporations which boast of a billion greenback or extra in valuation, because it raised $52 million in from buyers led by IIFL Asset Administration’s (AMC’s) late-stage tech fund.
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