Living Food, a digital marketplace focused on fresh food, has raised $7.5 million in Series A fundraise led by Amasia, a global venture capital firm. Other investors including SOSV, Blume Founders Fund besides Xander Group founder Sid Yog and Nexus Venture Partners co-founder Sandeep Singhal participated in this round.
Focused on delivering 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 SKUs in 24 categories, such as seasonal fruits, leafy greens, fresh bread, artisanal chocolates, spreads and sauces, cold-pressed oil in Bangalore. It also offers a selection of products for nationwide delivery.
Expansion plans
The start-up said it plans to expand to Mumbai and other cities this year and will utilise the funds to hire talent, improve logistics and tech offerings, and launch new brands.
“We found plenty of opportunities to grow while remaining focused only on Bangalore. This funding round is a testament to our focus on transforming our consumers’ eating behaviours 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’s partners include Makaibari selling their latest harvest and Araku Coffee offering freshly ground coffee. It also recently launched a cloud kitchen where dishes are prepared from fresh products sold on its platform.
Amasia’s investment in Living Food aligns closely with its investment thesis on behaviour change for a more sustainable planet. Some of Amasia’s investments globally include Skillshare, Tokopedia, Dialpad and Xendit. “We’re excited to support Living Food in the next chapter of their journey. 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,” said John Kim, Managing Partner at Amasia, who also led Living Food’s seed round in 2020.