FreshToHome attracts ADIO funding, to expand operations in UAE capital

Bengaluru-based FreshToHome, an integrated online brand in fresh fish, poultry and meat e- commerce, said on Monday it would receive financialand non- financial incentives from the Abu Dhabi Investment Office (ADIO) to develop projects in desert agriculture and aquaculture in Abu Dhabi.

FreshToHome said in a statement it would expand farming, supply chain and processing capabilities across precision agriculture and aquaculture in Abu Dhabi.

In addition to FreshToHome, ADIO has also partnered individually with two other agriculture technology (AgTech) companies, Pure Harvest and Nanoracks.

"Together with FreshtoHome, the three companies will receive financial and non-financial incentives totalling AED 152 million (USD 41 million) to expand their operations in Abu Dhabi...," the statement said.

The new partnerships are a continuation of ADIO's efforts to accelerate the growth of Abu Dhabi's AgTech ecosystem through the AgTech incentive programme, it was stated.

Shan Kadavil, CEO and Co-Founder of FreshToHome, said: "...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."

ADIO is the government entity responsible for attracting and facilitating investment in the Emirate of Abu Dhabi.

SEE ALSO: Bharat Biotech applies for emergency use approval for its COVID-19 vaccine Covaxin

COVID-19 vaccine in India: Expert panel to review Pfizer, Serum and Bharat Biotech's emergency use application tomorrow