Pescafresh Raises $2 Million In Pre-Series A1 Funding Led By Elara India Opportunities Fund
The fresh fund will be utilised to invest in geographical expansions and technological intervention
Pescafresh, a D2C seafood and meat brand, has raised $2 million in a pre-Series A1 funding led by Elara India Opportunities Fund. The company will use the fresh capital to invest in geographical expansions, technological intervention and for strategic partnerships.
"We are delighted that Elara has recognised the efforts by Pescafresh to develop organised seafood and meat space. We aim to leverage our processing capacities," said Sangram Sawant, founder, Pescafresh.
The brand has launched the No Antibiotics Ever (NAE) chicken, tender red mutton and NAE free-range eggs. Pescafresh is building the art processing plants and also aiming to grow at 100 per cent CAGR for the next five years, the company claimed in a statement.
"We are excited to back a brand like Pescafresh that has been built on strong fundamentals. Our company believes that Pescafresh has an edge that is positioned with extensive knowledge of supply chain, technical expertise and the ability to churn differentiated products," said spokesperson, Elara India Opportunities Fund.
Founded in 2004 by Sangram Sawant, Pescafresh is a direct-to-consumer seafood and meat brand that functions on the farm-to-fork business model.
According to a research, meat production in India is estimated at 6.3 million tons annually. In 2021, the sales value of processed meat and seafood in the Indian market amounted as $281 million.