FreshToHome, which sells fresh fish and meat online, on Thursday said it aims to more than double its revenue to Rs 1,500 crore over the next 12 months driven by growth across business, including its ‘FTH Daily’ service. FTH Daily, which is currently available in Bengaluru, Pune and Hyderabad, is a daily service for delivering milk, groceries, fruits, vegetables, bakery items and daily essentials. According to news agency PTI, the service would compete against players like Milkbasket.
“We had soft-launched FTH Daily as a separate offering a few months ago and already seeing about one million orders a month. We are now officially launching the service in these three cities and will see the response and expand to other metros shortly,” FTH co-founder and CEO Shan Kadavil told PTI.
He added that the company expects the number of orders on FTH Daily to scale up to 4-5 million over the next year.
“Our revenues currently are at about Rs 600 crore and we expect this to grow to Rs 1,500 crore by December next year,” he stated.
In October, FreshToHome had announced raising USD 121 million (about Rs 890.8 crore) in funding led by Investment Corporation of Dubai, Investcorp, Ascent Capital, DFC, Allana Group and other investors. Iron Pillar, the lead investor from the previous series B round, had also participated in the round (series C) with an investment of USD 19 million.