On Wednesday, Living Food, a fresh food-focused first-party marketplace platform, said that it had raised USD 7.5 million (about Rs 55.8 crore) in a fundraising round headed by Amasia.
SOSV, Blume Founders Fund, and famous angels such as Xander Group founder Sid Yog and Nexus Venture Partners co-founder Sandeep Singhal also participated in the Series A round.
According to a corporate statement, the cash will be used to grow into new regions, hire more people, invest in technology and logistics, and launch new brands.
"This round of funding demonstrates our unwavering commitment to changing our customers' eating habits." Living Food Founder and CEO Akash Sajith said, "We did it by offering access to a broad assortment of fresh, clean, and credible food through our rapid and creative fresh food supply chain." He stated that Living Food will continue to work toward offering locally sourced healthy food that is good for people and the environment.
He stated that Living Food will continue to work toward offering locally sourced healthy food that is good for people and the environment.
Living Food was founded in 2018 and delivers fresh, locally sourced produce to customers the same day it is harvested or produced.
Since then, the company has grown to encompass over 700 stock-keeping units (SKUs) in 24 categories in Bangalore, including seasonal fruits, leafy vegetables, fresh bread, artisanal chocolates, spreads and sauces, cold-pressed oil, and many more.
In early 2022, the company hopes to expand to Mumbai, followed by further markets later that year.
According to the statement, Living Food currently completes 99 percent of its deliveries in less than 24 hours, with 80 percent of orders delivered within six hours.
