Captain Fresh, a tech-enabled B2B seafood marketplace, has raised $40 million in a Series B funding round led by Tiger Global and Prosus Ventures (formerly Naspers Ventures). 

The funding round also saw participation from existing investors Matrix Partners India, Accel India, Ankur Capital, and Incubate Fund.

As per the startup, the freshly raised funds will be used to build tech interventions and deeper tech integrations across the supply and demand-side network, such as a real-time trading marketplace, pricing and quality standardisation using AI, and the application of robotic automation to move massive volumes, with precision. The startup will also utilise the funds towards hiring and expanding its team.

Captain Fresh | Building The Future of Fresh Fish And Seafood

Founded by Utham Gowda in 2019, Captain Fresh is a B2B marketplace that aims to help farmers generate more revenue and businesses supply the freshest fish and seafood to their customers.

The B2B marketplace is leveraging technology to deliver the fastest harvest-to-retail in the industry and rapidly emerged as a preferred monetisation partner for supplier communities across the Indian coast. 

Speaking on the development, Utham Gowda, Founder of Captain Fresh, said,

“We believe the one aim Captain Fresh is chasing is to build a stock exchange equivalent for seafood where it democratises price and quality, leading to friction-free trades across the spectrum. These efforts in technological innovation to solve these issues will result in building an environment for a friction-free trade and commerce across the supply chain.”

The tech-enabled distribution network of Captain Fresh spans 20 cities and more than 2,000 retail businesses. Captain Fresh is leveraging deep technologies to lessen the high amount of friction in the traditional trade and optimize the value accrued to the supply communities.

The reseller segment (B2B2C) of the startup has demonstrated an increase of 20x within just three months of launch, retailing about 1.2M kgs of fish and seafood every month. 

As per the founder, India has the potential to be a global superpower in the fish and seafood industry. India already ranks second in freshwater fish production and third in marine fish production, Utham added.

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