Captain Fresh, a seafood supply chain company, has secured Rs. 250 crore (approximately $30 million) as part of its ongoing Pre-IPO funding round.

The investment was led by Prosus Ventures, Accel, and Tiger Global, with participation from several investors, including Sriharsha Majety’s family office (Co-founder of Swiggy), Sid Khanna (Chairman of India Equity Partners), Sunjay Kapur (Chairman of Sona Comstar), Shivalik Prints (a textile and apparel manufacturer), and other stakeholders.

Last month, the B2B startup received Rs. 100 crore (around $12 million) in funding from Motilal Oswal Wealth.

Utham Gowda, Founder and Group CEO of Captain Fresh, stated that the company has evolved into a global enterprise over the past two years, with over 98% of its demand coming from international markets. The fresh capital infusion is expected to help the company surpass $1 billion in revenue within the next year, positioning it among the top 25 seafood companies worldwide. He also highlighted plans to enhance profit margins and double operating profits.

Gowda further mentioned that the newly acquired funds would reinforce the company’s balance sheet and provide a solid foundation for its upcoming IPO, which is slated for filing by the end of this year.

According to media reports, Captain Fresh has engaged Axis Capital and Bank of America as financial advisors for its proposed IPO, estimated to be in the range of $350-400 million.

Based in Bengaluru, Captain Fresh has a global presence with offices in Chicago, West Palm Beach, Paris, Madrid, Amsterdam, Oslo, Gdynia, and Dubai. The company sources a variety of seafood from the Pacific, Atlantic, and Indian Oceans, catering to high-demand markets such as the US, Europe, and the UAE.