B2B supplier of fresh fish and meat produce, FreshR has raised $1.2 million in funding led by Axilor Ventures and 1crowd.
The company said that fresh funding will be used to grow and expand its regional footprint, develop and execute its technology stack, and increase its workforce.
FreshR, founded by Ambika Satapathy and Sadananda Satapathy, aggregates a fragmented national demand base and ensures quality, variety, and secure high-value transactions for its consumers through a mix of operational efficiency and technology integration.
“The Indian meat industry, of which General Trade and HORECA make up the largest segments, suffers from fragmented demand, high perishability, and under-invested, opaque supply chains. This leads to poor product quality and massive wastage. Our vision is to organize the domestic market by using technology to cater to this fragmented demand and investing in world class infrastructure to manage pan-India sourcing & distribution”, Ambika Satapathy, Co-Founder, FreshR said.
According to a company statement, FreshR has farmed, traded, processed, and distributed very perishable meat products in distant geographies like Odisha, Andhra Pradesh, and Chhattisgarh.
Prachi Sinha, the deal lead at Axilor, added “FreshR’s full-stack model and digital footprint are key to increase their relevance to their buyers and distributors. It has been able to achieve higher than industry growth while maintaining healthy contribution margins.”
Earlier this year, the company introduced an application to standardise prices and grades for the industry, allowing bulk purchasers from across India to make orders and track quality processes.
“Ambika and Sadanand are quintessential entrepreneurs who have built a strong business that targets the meat and fisheries supply chain industry bringing high quality standards, transparency and financial access to the various stakeholders in the value chain. Their tech lead model helps integrate a highly fragmented industry bringing in significant efficiencies in creating time and place utility to highly perishable products. We look forward to working with them as they enter a very exciting phase of growth,” said Natasha Kothari, Partner at 1Crowd.
FreshR is a B2B supplier of fresh fish and meat produce. FreshR began as a fully integrated agribusiness with its own farms, tribal farmer network, retail outlets, and value-added products.