Fresh foods-focused platform Living Food has secured $7.5 million (around Rs 56 crore) in a Series A funding round led by Amasia.
The round also saw participation from SOSV, Blume Founders Fund, Xander Group founder Sid Yog and Nexus Venture Partners co-founder Sandeep Singhal, among others.
The company plans to expand its footprint to Mumbai and then to other cities throughout this year, while boosting its logistics and technology solutions and rolling out new brands with the fresh capital.
Living Food claims to deliver locally-sourced and high-quality produce to their customers on the same day, it is being harvested or produced.
Living Food Co Pvt Ltd was founded in 2018 as a farm-to-table subscription service with a vertical temperature control hydroponic farm. Since then, it has expanded to include over 700 stock-keeping units (SKUs) in 24 categories in Bengaluru, including seasonal fruits, leafy greens, fresh bread, artisanal chocolates, spreads & sauces, and cold-pressed oil.
“We found plenty of opportunities to grow while remaining focused only on Bangalore. This funding round is a testament to our relentless focus on transforming our consumers’ eating behaviors. We did it by providing access to a vast selection of fresh, clean, and credible food through our fast and innovative fresh food supply chain,” said Akash Sajith, Founder and CEO of Living Food.
Living Food further claimed that the number of orders placed via its platform has increased ten-fold in the last year, while the company’s net promoter score (NPS) has remained at 93.
It currently completes majority of its deliveries in less than 24 hours, with 80% of orders arriving in less than six hours.
Living Food has entered the cloud kitchen area, where dishes are cooked using fresh items sold on its website, according to the company.
Amasia backs companies focused on tackling climate crisis and sustainability planet. Amasia participates in seed to Series B stages, across the United States, Southeast Asia, India, Europe, and Latin America. Founded in 2013, Amasia has backed nearly 50 companies.
In one of the similar deal, Houz of Nature Pvt Ltd, which operates OneGreen, a marketplace focused on pure, safe, and natural products, raised undisclosed amount in Pre-Seed funding round from well-known personalities Rannvijay, Vidya Malawade, and Nikhil Chinapa in November.