BENGALURU: Food products company iD Fresh Food on Tuesday, January 4, 2022, announced the closing of Rs 507-crore Series D round of funding. The round was led by NewQuest Capital Partner along with the existing investor, Premji Invest.
Founded by PC Musthafa, Abdul Naser and his brothers in 2005, iD had secured $5.2 m in Series A funding from Helion Ventures in 2014 and $25 million from Premji Invest in 2017. Helion Ventures has exited the company with a 10X return.
PC Musthafa, Co-founder and CEO, iD Fresh Food, said, “In the coming years, we will expand our presence across channels and geographies, strengthen our supply chain practices and introduce innovative products.”
“iD has also partnered with BigBasket to launch a co-branded label, iD Fresho. The company intends to reach a million households in India with its D2C business,” said Rahul Garg, Partner, Premji Invest.