Captain Fresh raises $20 million

Captain Fresh raises $20 million

Captain Fresh, a B2B fish and seafood company, on Tuesday announced raising USD 20 million (around Rs 166 crore) that will help it in expanding in global markets.

The extended C funding round saw participation from SBI Investment and Evolvence Capital, among others.

"This investment is led by Japan-based SBI Investment and Evolvence Capital, complemented by continued backing from internal investors, including Accel, Matrix Partners India, Prosus Ventures and Tiger Global," a company statement said. Captain Fresh is backed by Ankur Capital and Incubate Fund.

"The fresh capital will be purposed towards Captain Fresh's global aspirations, particularly focusing on Europe and the USA. Discussions are already in motion with potential allies in these markets," it added. Founder Utham Gowda said it is a transformative juncture in our aim to establish Captain Fresh on the global stage.

"Over the past three years, we've built significant supply side capacity by establishing a robust network connecting us directly to Indian coastal fishermen and farmers. This is in addition to developing deep partnerships with more than a dozen export focused factories," it said. Captain Fresh has also appointed Basola Valles as CEO – Europe, catalysing the firm's expansion initiatives within the pivotal market.

"We will bring Captain Fresh's improved and still improving tech enabled sourcing capabilities to Europe, delivering a multi species, multi origin approach to distribution. "We aim to reduce turnaround times, invest in product innovation, and deliver on transparency and traceability needs. We will initially focus on selected European countries in partnership with local players," Valles said.