Seafood Marketplace Captain Fresh raises $7.3 Mn C Series Funding From Evolvence Group
- ByStartupStory | April 27, 2022
Captain Fresh, a tech-enabled B2B animal protein marketplace, has secured $7.3 million in an extended Series C round from Evolvence Group. The startup passed a resolution to award 566 Series CCPS to Evolvence India Fund at an extraordinary general meeting on April 18, 2022.
The news comes roughly a month after it received $50 million in funding from Tiger Global and Prosus Ventures, valued at $500 million. Captain Fresh creator Utham Gowda had previously stated that a strategic investor will be investing close to $10 million. The strategic investor appears to be Evolvence Group.
Captain Fresh is a farm-to-retail platform for animal protein–fish, shellfish, and sheep–founded by Gowda in 2019. It buys directly from agents and farms and distributes through B2B, B2R, and B2B2C channels, allowing it to offer fish and other animal protein at lower prices than unorganized channels.
The business raised $40 million in December of last year, backed by Tiger Global and Prosus Ventures. With this extension round, the company has raised nearly $100 million in less than four months. Matrix Partners, Accel India, Ankur Capital, and Incubate Fund are among the investors in the company. Captain Fresh raised $12 million in a Series A round-headed by Accel in July 2021, with current investors Matrix Partners India, Ankur Capital, and Incubate Fund also participating.
The company claims to have a tech-enabled distribution network spanning more than 20 cities and 2,500 retail locations. It competes with companies such as Licious, FreshToHome, and TenderCuts, among others.
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