Animal Protein Retail Marketplace Captain Fresh Infuses $50 mn Fresh Fund
A business-to-business harvest-to-retail marketplace for animal protein, Captain Fresh is in talks to raise up to $50 million in fresh funding, according to sources familiar with the matter. The B2B seafood startup Captain Fresh board allotted around 500 Series C7 CCPS to British International Investment to raise this amount. The development finance institution of the UK will join the cap table of the startup with around 1.45% stake.
The company is in advanced stage of securing capital from Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures, the sources said, requesting anonymity as the matter is private.
The startup primarily focuses on seafood, helping fishermen and farmers sell their catch and livestock to businesses. It has set up dozens of collection centers in multiple countries where it collects the catch and then sells to thousands of businesses across coastal states.
The freshly secured fund is earmarked to facilitate Captain Fresh's global ambitions, with a particular focus on expanding its presence in Europe and the United States. Conversations are already underway with potential partners in these key markets.
Talking about the investment Yoshitaka Kitao, Chairman and CEO of SBI Investment, quoted, "Captain Fresh, as the frontrunner and a technology-driven company in this vertical, is reshaping the B2B seafood marketplace and supply chain. We wholeheartedly believe in the management's vision."
Expressing his delight, Utham Gowda, the founder of the company, quoted, "We find ourselves at a pivotal juncture in our quest to establish Captain Fresh on the international stage. Over the past three years, we have meticulously built substantial supply-side capacity by establishing a robust network that directly connects us with Indian coastal fishermen and farmers. In addition, we have cultivated deep partnerships with more than a dozen export-oriented factories.
Although we currently handle over 80,000 metric tons of seafood annually, this is just the tip of the iceberg in terms of our potential. Our platform is poised to maximize every investment dollar, especially in high-margin markets like Europe and the US."
By strategically blending technology across critical facets of the value chain, ranging from procurement and processing to distribution and retail, Captain Fresh is revolutionizing the sector, harmonizing people, processes, and technology.
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The company is in advanced stage of securing capital from Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures, the sources said, requesting anonymity as the matter is private.
The startup primarily focuses on seafood, helping fishermen and farmers sell their catch and livestock to businesses. It has set up dozens of collection centers in multiple countries where it collects the catch and then sells to thousands of businesses across coastal states.
The freshly secured fund is earmarked to facilitate Captain Fresh's global ambitions, with a particular focus on expanding its presence in Europe and the United States. Conversations are already underway with potential partners in these key markets.
Talking about the investment Yoshitaka Kitao, Chairman and CEO of SBI Investment, quoted, "Captain Fresh, as the frontrunner and a technology-driven company in this vertical, is reshaping the B2B seafood marketplace and supply chain. We wholeheartedly believe in the management's vision."
Expressing his delight, Utham Gowda, the founder of the company, quoted, "We find ourselves at a pivotal juncture in our quest to establish Captain Fresh on the international stage. Over the past three years, we have meticulously built substantial supply-side capacity by establishing a robust network that directly connects us with Indian coastal fishermen and farmers. In addition, we have cultivated deep partnerships with more than a dozen export-oriented factories.
Although we currently handle over 80,000 metric tons of seafood annually, this is just the tip of the iceberg in terms of our potential. Our platform is poised to maximize every investment dollar, especially in high-margin markets like Europe and the US."
By strategically blending technology across critical facets of the value chain, ranging from procurement and processing to distribution and retail, Captain Fresh is revolutionizing the sector, harmonizing people, processes, and technology.
