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World’s largest fish and meat retailer receives funding from Abu Dhabi

World’s largest fish and meat retailer receives funding from Abu Dhabi

FreshToHome will invest in aquaculture and agriculture solutions aimed at supporting food production in arid and desert climates

FreshToHome, the world’s largest fish and meat store, will receive financial and non-financial incentives from the Abu Dhabi Investment Office (ADIO), it confirmed on December 7.

FreshToHome will invest in next generation aquaculture and agriculture solutions aimed at supporting food production in arid and desert climates. The incentives from ADIO will enable research and technology development to expand existing capabilities in Abu Dhabi’s agriculture technology (AgTech) ecosystem and promote innovation to address global food security challenges.

In addition to FreshToHome, ADIO has also partnered individually with two other AgTech companies, Pure Harvest and Nanoracks. The three companies combined, will receive financial and non-financial incentives totalling Dhs152m ($41m) to expand their operations in Abu Dhabi and tap into the emirate’s ecosystem and infrastructure.

“The rapid growth of Abu Dhabi’s AgTech ecosystem is giving rise to new technologies supporting the advancement of the agriculture sector in the emirate, region and beyond,” said Dr. Tariq Bin Hendi, director general of ADIO.

“FreshToHome is part of a thriving network of AgTech companies, farmers and other agriculture players in Abu Dhabi, where its expertise will contribute to the overall capabilities of the ecosystem, while also benefiting from partnerships, opportunities and support to fuel its next stage of growth.”

Shan Kadavil, CEO and co-founder of FreshToHome, said: “At FreshToHome, we use cutting-edge research in AI and precision aquaculture for furthering food security in a sustainable manner while also giving better value to consumers, fishermen and farmers. To this end, we intend to bring our US patent pending AI-powered virtual commodities exchange technology, our e-grocery platform and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region.”

FreshtoHome recently raised $121m in Series C funding, led by the Investment Corporation of Dubai (ICD), Investcorp, Ascent Capital, The United States International Development Finance Corporation (DFC) and Allana, with follow-on investment from Series B investor Iron Pillar.

Read: World’s largest fish and meat online retailer raises $121m to expand operations

Also read: Abu Dhabi looks to desert and space farming to boost food supply

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