Living Food, India’s fast-growing 1P platform focused on fresh food, announced on 5th January the successful closing of a US$7.5 million Series A fundraise led by Amasia, a thesis-driven venture capital firm investing in sustainability via behaviour change. Other participating investors included SOSV, Blume Founders Fund, and notable angels including Xander Group founder Sid Yog and Nexus Venture Partners co-founder Sandeep Singhal.
Focused on delivering “insanely fresh,” locally-sourced, and high-quality produce to consumers within the day of harvest or production, Living Food started off in 2018 as a vertical climate control hydroponic farm selling farm-to-table subscriptions. Since then, the company has expanded to include over 700 items in 24 categories such as seasonal fruits, leafy greens, fresh bread, artisanal chocolates, spreads and sauces, cold-pressed oil and many more. Living Food started in Bangalore and now also offers a selection of products for nationwide delivery.
The company plans to expand to Mumbai in early 2022 and expects further domestic expansion ahead. With the fresh funding, the company looks to expand the team, improve logistics and tech offerings, and launch new brands.
The number of orders coming through Living Food’s platform has increased 10 times in the past year. Living Food ensures safety and transparency by partnering with the local farmers, bakers, brewers, and other food artisans using environmentally sustainable practices.
The company currently fulfils 99 percent of its deliveries in under 24 hours, with 80 percent of orders delivered within six hours. Customers can optionally sign up for subscription-based deliveries, and the products are transported directly from the source to the customer in recyclable or compostable packaging. Living Food also recently launched a cloud kitchen where the dishes are prepared from fresh products sold on its platform. This new vertical provides the company’s customers with a more convenient way to enjoy healthy food without the hassle of cooking and cleaning.
“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 behaviours. 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. Living Food will continue to work towards providing locally-sourced healthy food that is good for the people and right for planet earth,” added Akash Sajith, Founder and CEO of Living Food.
“We are impressed with the team’s ability and determination, which were all part of what made the company so attractive to us as an investment. We’re excited to support Living Food in the next chapter of their journey,” said John Kim, Managing Partner at Amasia, who also led Living Food’s seed round in 2020.