Captain Fresh Secures $25M in Extended Series C Round to Expand Global Presence
- ByStartupStory | February 16, 2024
Captain Fresh, the leading B2B fish and seafood tech startup, has successfully raised $25 million in an extended Series C funding round, with British International Investment and Nekkanti Seafoods Group taking the lead, along with several family offices. The latest infusion of capital brings Captain Fresh’s total funding in its extended Series C to an impressive $45 million.
The funds will be utilized to bolster the company’s distribution network in key markets such as the United States and Europe. Captain Fresh has been on an upward trajectory, leveraging its technology-led asset-light model to aggregate high-quality, processed seafood supply in India. The company’s CEO and Founder, Utham Gowda, emphasized the strategic focus on forward integrating the distribution side of the value chain, particularly in the lucrative US and European markets.
“In the last three years, we have sharpened our playbook of aggregating high quality, processed, seafood supply in India using a technology-led asset light model. Every dollar we raise now is being deployed to forward integrate the distribution side of the value chain, particularly in the US and Europe. We expect these moves to enrich the monetisation potential for seafood on our platform,” stated Utham Gowda.
Captain Fresh has been proactive in its expansion efforts, recently finalizing the acquisition of Senecrus, a 40-year-old Paris-based shrimp cooker and distributor. Senecrus, situated in Europe’s largest seafood market, the Rungis market, serves major retailers including Auchan, Carrefour, and Metro.
The startup is set to strengthen its presence in the European market through strategic acquisitions and joint ventures. With offices in multiple countries, including India, the United States, Dubai, Paris, Oslo, Amsterdam, and Madrid, Captain Fresh boasts a diverse product portfolio featuring over 100 species of fish and seafood sourced from more than a dozen countries. The company’s reach extends to customers in over 30 countries.
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