B2B marketplace for the seafood supply chain Captain Fresh has raised $3 million in seed capital led by Matrix Partners India and Ankur Capital.

Incubate Fund, along with marquee investors like Jitendra Gupta (Jupiter Money), Asish Mohapatra (OfBusiness), Amrish Rau (Pine Labs), Revant Bhate (Mosaic Wellness), and ADB Ventures (the venture arm of Asian Development Bank), also participated in the funding round.

As per the startup, it would use the funds to continue to expand operations and invest deeper in its sourcing and distribution capabilities, building a world-class team, and invest in technology.

Founded by Utham Gowda in 2019, Captain Fresh is a B2B marketplace that is leveraging technology to deliver the fastest harvest-to-retail in the industry.

Capital Fresh delivers freshwater fishes and seafood to retailers across all formats through a trusted seafood supply chain that relies on superior demand-supply matching, standardised supplies, and digital traceability systems.

Utham Gowda, Founder, Founder of Captain Fresh, said in a press statement,

“We are digitally transforming the highly inefficient fresh fish and seafood supply chain in India by aggregating the fragmented retail demand across the country and linking them to the small fishermen and farmers throughout the Indian coast. We have witnessed 10x revenue growth in the last 18 months getting us closer to our $1 million per month milestone. We are particularly excited by our customers’ respect for us combined with the strong capital efficient and scalable business model we have been able to demonstrate in our early markets.”

The B2B Marketplace began operations in Bengaluru and is currently serving more than 550 retail businesses across all formats.

Capital Fresh has also recently expanded geographically with a presence in Hyderabad, Mangalore, Visakhapatnam, Pune and Mumbai.

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