BENGALURU – FreshToHome, one of India’s leading D2C meat and seafood brands, has reported a steady performance for the fiscal year ending March 2025 (FY25). The company saw its gross revenue climb to ₹421 crore, marking a 14% increase from ₹369.5 crore in the previous fiscal year.
Despite the competitive landscape of the fresh produce and quick-commerce segments, FreshToHome managed to keep its bottom line stable, reporting a net loss of ₹146 crore in FY25, a marginal reduction from the ₹150 crore loss recorded in FY24.
Key Financial Highlights (FY25)
| Metric | FY25 (Current) | FY24 (Previous) | Change (%) |
| Gross Revenue | ₹421.0 Cr | ₹369.5 Cr | ↑ 14.0% |
| Total Income | ₹430.0 Cr | - | - |
| Net Loss | ₹146.0 Cr | ₹150.0 Cr | ↓ 2.7% |
| Total Expenditure | ₹576.0 Cr | ₹542.0 Cr | ↑ 6.0% |
| Ad & Promotion Spends | ₹14.5 Cr | ₹23.0 Cr | ↓ 37.0% |
Operational Efficiency and Cost Drivers
The Bengaluru-based startup showed significant maturity in its spending patterns. While total expenditure grew by 6%, the company made a strategic shift in its marketing strategy, slashing advertising and promotional expenses by 37% to ₹14.5 crore.
However, the cost of materials consumed—the company’s largest expense—rose by 5% to reach ₹481 crore, accounting for over 83% of the total cost base. This reflects the inherent challenges of the high-inventory, perishable goods model.
Unit Economics & Liquidity
FreshToHome has successfully improved its "spend-to-earn" ratio. In FY25, the company spent ₹1.37 to earn a single rupee of operating revenue, an improvement from the ₹1.47 spent in FY24.
Cash Reserves: The firm ended the fiscal year with cash and bank balances of ₹42 crore.
Current Assets: Total current assets were valued at ₹73.5 crore.
Strategic Expansion and Funding
To date, FreshToHome has raised over $320 million in funding, including a high-profile $104 million Series D round led by the Amazon Smbhav Venture Fund.
Beyond the financial statements, the company has recently secured ₹75 crore in venture debt from Trifecta Capital. This capital is earmarked for strengthening working capital and fueling its push into the quick commerce space, where it now competes with giants like Blinkit and Zepto by offering 10–20 minute deliveries in select regions.
"The focus remains on sustainable growth. By improving our unit economics and diversifying our funding through debt, we are positioning ourselves for a path to profitability while expanding our footprint in India and the UAE." — Company Spokesperson