Pescafresh, a D2C Seafood and Meat brand, has raised $2million in a pre-Series A1 funding by UK-based Elara India Opportunities Fund. The funding is the first tranche of an anticipated round for the company as the brand scales rapidly, an official statement highlighted.
Pescafresh, which is currently present in Mumbai, will enter the Pune market in May and will also soon kick start its operations in Delhi NCR and Bengaluru.
Founded in 2004 by Sangram Sawant, Pescafresh functions on the farm-to-fork business model. The brand owns the entire back-end supply chain, including stringent cold chain control, procurement, processing and storage, so that the product’s quality and freshness is maintained right from the initial stages to the time it reaches the customers. Pescafresh is introducing additional 100 products across the raw and RTE-RTC product line.
“We are excited to back a legacy brand like Pescafresh, arguably the first direct to consumer Seafood and Meat brand in India, that has been built on strong fundamentals. Sangram and his team’s domain expertise in the business and its ability to adapt to new market opportunities have positioned Pescafresh well to scale this as a national brand and beyond. Elara India Opportunities Fund believes that Pescafresh has an edge and is uniquely positioned with extensive knowledge of supply chain, technical expertise, a strong team, deep insights, a laser focus on technology and its ability to churn differentiated products.’’ said Spokesperson, Elara India Opportunities Fund.
Sangram Sawant, Founder, Pescafresh also commented on this funding and added, “We are elated that Elara India has decided to partner with Pescafresh to scale the brand at a pan-India level and beyond. Their deep connections, networks, and access to intelligent capital will have a multiplier effect as the brand scales. We are delighted that Elara has recognised the pioneering efforts by Pescafresh to develop the organised Seafood and Meat space. We aim to leverage our processing capacities and expand into newer tier 1 markets by the end of the current financial year.”