Bangaluru-Based Hackle Secures $1.2 M From Pescafresh, Elara India
Pescafresh and Elara India have invested $1.2 million in a funding round in a Bengaluru-based startup called Hackle, Pescafresh is D2C seafood and meat brand with its tagline 'Farm to Fork', hackle will be used to boost their supply chain and logistics network and look after their fulfilment centres as well
Pescafresh a D2C seafood and meat brand, has invested $1.25 million in a funding round with Elara India Opportunity Fund in a Bangaluru-based logistics and distribution network startup called Hackle. In the round, Callapina Capital, select angels, and IAN were the participants.
In future this move is considered as of Pescafresh’s venture - PescaLabs, where the brand partners or invests in companies, which can help it scale up the business rapidly Hackle will be responsible for managing Pescafresh's fulfilment centres, inventory, and last-mile delivery processes. It was founded in 2004.
“Our investment in Hackle is in line with our objectives of scaling with the help of industry experts. The seafood and meats business is operationally heavy and a strong supply chain play is much needed. Hackle has demonstrated its ability to work closely with Pescafresh and imbibe our values of freshness,” said Sangram Sawant, Founder, of Pescafresh.
The Hackle is redefining omnichannel fulfilment and distribution by building an agile and super-efficient network to support the growth of digital-first brands and even legacy brands.
“We are excited to partner with Pescafresh, India’s first D2C brand. Due to the brand's focus on quality and strong execution, it is successfully creating a habituated and loyal customer base. Their focus on omnichannel growth is in-line with our vision.” said Deepu Chandran, CEO, and Co-founder of Hackle.
Pescafresh claims that it is India’s first direct-to-consumer seafood and meat brand that pioneered home delivery in temperature-controlled EPS boxes. It operates on a farm-to-fork model, owning the entire back-end supply chain and cold storage chain. Pescafresh caters to the customer’s doorstep with a tantalising culmination of variety and taste at an affordable price. The company has an established supply chain and has received funding from marquee investors such as Blume Ventures, Elara India Opportunity Fund, UK and Rehan Yar Khan of Orios Ventures.
Recently, Pescafresh raised funds, which are being invested in geographical expansion and technological intervention. Part of the funds will also be deployed for strategic acquisition and expansion of the brand’s reach. Pescafresh, which is currently present in Mumbai and Pune, will soon launch its operations in Delhi NCR and Bengaluru.
The brand owns the entire back-end supply chain, including cold chain control, procurement, processing, and storage. The entire process is automated and technologically driven with zero cross-contamination, along with a temperature-controlled delivery service.