Captain Fresh raises $25M in extended Series C round

Captain Fresh, a B2B fish and seafood tech startup, has raised $25 million as part of its extended Series C funding round led by British International Investment and Nekkanti Seafoods Group as well as a few family offices.

The startup plans to use the capital to expand its distribution presence in the US and Europe.

So far, Captain Fresh has raised a total of $45 million across multiple tranches in its Series C extended round. Last September, it raised $20 million in a round led by Strategic Business Innovators of Japan and Evolvence fund, with participation from Tiger Global, Prosus, Accel and Matrix Partners India.

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Captain Fresh Founder and CEO Utham Gowda said, “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.”

Captain Fresh recently completed the acquisition of 40-year-old, Paris-based shrimp cooker and distributor, Senecrus, as part of its EU expansion strategy. Senecrus is based out of one of Europe’s largest seafood markets, the Rungis market, and counts the likes of Auchan, Carrefour, Metro, and other large retailers as its customers.

The startup aims to strengthen its distribution presence in the region through a series of acquisitions and joint ventures.

The company's product portfolio comprises over 100 species of fish and seafood, sourced from over a dozen countries. It caters to customers in over 30 countries.

Captain Fresh has offices in India, the United States, Dubai, Paris, Oslo, Amsterdam, and Madrid.

(The copy was updated to correct the funding amount and name of the investors.)