Captain Fresh, Bengaluru-based seafood and freshwater fish supply chain marketplace that links small farmers and fishers from different parts of the country, has secured US$ 40 million in a Series B funding round co-led by Tiger Global Management and Prosus Ventures on 21 December 2021.
Investors: The latest investment round featured Tiger Global Management and Prosus Ventures as the lead investor with participation from Matrix Partners India, Ankur Capital, Accel India and Incubate Fund. The startup has managed to raise approximately US$ 57 million, in total, to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards building AI for pricing and quality standardisation, a real-time trading marketplace, and implementing robotic automation to move volumes with accuracy. It also aims to increase its team and distribution network across Pan India.
About Captain Fresh
Brought to existence in 2019 by Utham Gowda, Captain Fresh is a B2B platform capitalising on technology to offer the quickest harvest-to-retail in the domain. It aids small farmers and fishers by consolidating countrywide retail demand on its interface. The firm claims to have emerged as a standard monetisation partner for supplier groups established along the Indian coast in a short period. Its reseller business (B2B2C) has increased 20 times in just three months of commencement, retailing nearly 1.2M kgs of seafood and fish monthly. The firm’s tech-driven distribution network is spread across over 2,000 retail businesses in 20 cities.
What the Founder has to say: “We envisage expanding to the Europe and US. We believe that we have the potential to create a story of Indian fish going to the shores and selling it just because it’s being transported on a top-notch technology stack. We offer traceability and other tech features, implying that a US client is spending on something sourced from India. It’s an aspiration that we seek to develop at Captain Fresh.”- Utham Gowda, Founder and CEO of Captain Fresh.
What the Investor has to say: “Captain Fresh has witnessed dramatic growth in the previous year, and their infusion of fresh capital is evidence of their successful supply first tech-driven business paradigm that has allowed them to grow fast while enhancing economics by mitigating dump and losses in the seafood supply chain.”- Sudipto Sannigrahi, Principal, Matrix Partners India.
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