Captain Fresh, a B2B fish and seafood company, Tuesday announced that it has raised $20 million in an extended series C funding round led by Japan-based SBI Investment and Evolvence Capital.
The financing also saw the participation of internal investors including Accel, Matrix Partners India, Prosus Ventures, and Tiger Global, the company said in a statement.
Captain Fresh also counts Ankur Capital and Incubate Fund among its backers. Elluminate Capital acted as the exclusive financial advisor to Captain Fresh on the transaction.
The fresh capital will be used to expand operations in Europe and the US. The company said that discussions are already in place with potential allies in these markets.
“Although we handle over 80,000 MT of seafood annually, it’s merely scratching the surface of our potential. Our platform is primed to optimize every investment dollar, especially in high-margin markets like Europe and the US,” said Captain Fresh founder Utham Gowda.
At present, the Indian Ocean Region accounts for the entirety of the platform’s supply, with India constituting 90%. In terms of demand, Europe, the US, and India each contribute roughly equal shares, with the remaining demand stemming from Southeast Asia.
Captain Fresh’s diverse product range encompasses over 100 varieties of fish and seafood, catering to clients in more than 30 countries worldwide. With operational offices in India, the US, Dubai, and Madrid, Captain Fresh now plans to expand across Europe.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from September 1-6, 2023.
