Fish and meat distribution startup FreshR has raised USD 1.2 million (Rs 9.33 crore) in a funding round led by Axilor Ventures and 1crowd, a release said on Thursday.
FreshR would use the fresh funding to grow and expand its geographical footprint, develop and implement its tech stack as well as grow its team. “Building India’s largest fish and meat distribution business – FreshR has recently announced that it has raised USD 1.2 million in funding led by Axilor Ventures and 1crowd,” the statement said.
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FreshR, founded by Ambika Satapathy and Sadananda Satapathy, had earlier raised a pre-seed round from Villgro, Upaya Social Ventures, Beyond Capital Fund and other early stage funders. “The company also launched an application earlier this year which, is a one-of-a-kind resource used to standardise prices and grades for the sector and allows bulk buyers from across India to place orders and track quality processes,” the company statement said.
Since its inception, FreshR has farmed, traded, processed and distributed highly-perishable meat products in some of the remotest geographies in Odisha, Andhra Pradesh and Chhattisgarh. Commenting on the fundraise, Ambika Satapathy, co-founder of FreshR, said: “Our vision is to organise the domestic market by using technology to cater to this fragmented demand and investing in world class infrastructure to manage pan-India sourcing and distribution.”