Captain Fresh Raises $20 Mn To Expand Operations In Europe, US

Captain Fresh Bags $13 Mn To Fund Capex, Biz Expansion

SUMMARY

The funding round was led by SBI Investments and Evolvence Capital, and also saw participation from Tiger Global, Accel Partners, Matrix Partners India, and Prosus Ventures

Captain Fresh said it will utilise the fresh capital to expand its operations in the US and European markets

In March last year, Captain Fresh bagged $50 Mn to foray into the African and Middle Eastern markets

B2B seafood startup Captain Fresh has raised $20 Mn in an extended Series C round led by Japan’s SBI Investments and Evolvence Capital.

The funding round also saw participation from Captain Fresh’s existing investors – Tiger Global, Accel Partners, Matrix Partners India, and Prosus Ventures.

The Bengaluru-based startup will utilse the fresh capital to expand its operations in the European and the US markets.

Captain Fresh also announced the appointment of Basola Valles as the CEO for the European market.

Commenting on expansion plans for Europe, Valles said, “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.”

The funding round comes almost over a year after Inc42 reported that the startup raised $7.3 Mn from Evolvence Group as a part of its extended Series C round.

Captain Fresh last announced raising $50 Mn in March 2022 to foray into Africa and Middle East. This funding round was led by Prosus Ventures and Tiger Global. Accel India, Matrix Partners India, Ankur Capital, and Incubate Fund also participated in the round.

Founded in 2019 by Utham Gowda, Captain Fresh is a farm-to-retail platform for animal protein – fish, seafood and sheep. It procures directly from agents and farmers and supplies across B2B, B2R and B2B2C channels.

The startup indirectly competes against the likes of FreshtoHome, Licious, and Good To Go-acquired Tendercuts.