16 February 2024 – Bengaluru-based fish and seafood tech startup, Captain Fresh, has successfully raised $25 million in an extended Series C funding round. The investment, led by Nekkanti Seafoods Group and British International Investment (BII) from the UK, along with contributions from family offices, aims to propel the startup’s distribution footprint in the US and Europe.
About Captain Fresh:
Founded in 2019 by Utham Gowda, Captain Fresh has evolved into a B2B platform with a vision to become the largest multi-species, multi-origin vertically integrated seafood platform. The startup, boasting offices across the globe, including India, the US, Dubai, Paris, Oslo, Amsterdam, and Madrid, specializes in a diverse product portfolio comprising over 100 species of fish and seafood sourced globally.
Funding Details:
This marks Captain Fresh’s third tranche in its extended Series C round, bringing the total raised to $45 million. The funds will be strategically utilized to strengthen the company’s distribution networks in key markets, especially in the US and Europe. The latest round includes contributions from Nekkanti Seafoods Group, BII, and various family offices.
Captain Fresh, in pursuit of its goal to be a prominent player in the seafood domain, has recently acquired Senecrus, a Paris-based shrimp cooker and distributor. This move aligns with the startup’s broader strategy to fortify its presence in the European market through a series of acquisitions and joint ventures.
Utham Gowda, the Founder and CEO of Captain Fresh, expressed the company’s deployment strategy for the raised capital. The focus is on advancing the distribution side of the value chain, particularly in the US and Europe. The objective is to enhance the monetization potential for seafood on their platform, coupled with expanding the successful aggregation playbook to other parts of the Indian Ocean Region.
Impact and Conclusion:
The successful funding round underlines the confidence investors have in Captain Fresh’s mission to revolutionize seafood distribution globally. The strategic injection of $25 million will not only accelerate the startup’s expansion plans but also contribute to sustainable practices and economic opportunities for fishermen. As Captain Fresh continues its trajectory in the seafood industry, the recent acquisitions and global reach position it as a key player in the evolving landscape of seafood technology.
