Total amount raised
$214.4 Millions
Latest funding date
1/1/2025
Location
Captain Fresh has successfully raised significant funding over multiple rounds, establishing itself as a key player in the fish and seafood supply chain industry. The platform leverages technology to streamline the harvest-to-retail process, connecting small fishermen and farmers with retail demand across the country.
Keep reading to explore the intricacies of Captain Fresh's fundraising journey and the investors backing this innovative platform.
What Is Captain Fresh?
Captain Fresh, founded in 2019, is headquartered in Bengaluru, Karnataka, India. The company was established by Utham Gowda.
Specializing in the fish and seafood supply chain, Captain Fresh leverages technology to connect small fishermen and farmers with retail demand across the country.
With a workforce of 251-500 employees, Captain Fresh continues to grow and innovate in the industry.
How Much Funding Has Captain Fresh Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: August 2020
- Lead Investors: Ankur Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Seed Round
- Amount Raised: $3M
- Date: March 2021
- Lead Investors: Ankur Capital, Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series A
- Amount Raised: ₹890M
- Date: July 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Series B
- Amount Raised: $40M
- Date: December 2021
- Lead Investors: Prosus Ventures, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Debt Financing
- Amount Raised: Not disclosed
- Date: January 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Series C
- Amount Raised: $57.3M
- Date: March 2022
- Lead Investors: Evolvence India Fund, Prosus Ventures, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand international operations and enhance supply chain capabilities.
- Series C
- Amount Raised: $20M
- Date: September 2023
- Lead Investors: Evolvence India Fund, SBI Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and increase product offerings.
- Series C
- Amount Raised: ₹2.1B
- Date: January 2024
- Lead Investors: Nekkanti Sea Foods
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and prepare for future growth.
- Series C
- Amount Raised: ₹1B
- Date: December 2024
- Lead Investors: Motilal Oswal Wealth
- Valuation at Round: $526M
- Motivation Behind the Round: To support growth and operational expansion.
- Debt Financing
- Amount Raised: ₹200M
- Date: January 2025
- Lead Investors: VentureSoul Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital and operational needs.
- Venture Round
- Amount Raised: ₹2.5B
- Date: January 2025
- Lead Investors: Accel, Prosus Ventures, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand margins and prepare for an IPO.
Total Amount Raised: $490M. Current Valuation: $526M.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is an American investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. The firm has a strong track record of backing high-growth companies worldwide.
- Investment Focus Areas: Technology, Internet, Software, Consumer, Financial Technology
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. Known for its successful investments in technology startups, Accel has a significant presence in Silicon Valley and beyond.
- Investment Focus Areas: Early-stage and growth-stage technology companies
- Notable Investments: Facebook, Dropbox, Slack, Flipkart
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. The firm focuses on long-term investments in consumer internet companies.
- Investment Focus Areas: Consumer internet, Online classifieds, Food delivery, Payments, Fintech
- Notable Investments: Tencent, Delivery Hero, PayU
- Ankur Capital
- Details: Ankur Capital is an early-stage venture capital firm that invests in innovative startups in India. The firm focuses on sectors that have a significant impact on society and the economy.
- Investment Focus Areas: Agritech, Healthtech, Fintech
- Notable Investments: CropIn, Niramai, String Bio
- Evolvence India Fund
- Details: Evolvence India Fund is a private equity firm that focuses on growth capital investments in India. The firm aims to support companies with strong growth potential in various sectors.
- Investment Focus Areas: Consumer, Healthcare, Financial Services, Technology
- Notable Investments: Not publicly disclosed
What's Next for Captain Fresh?
Captain Fresh is poised to capitalize on the burgeoning global demand for seafood, particularly in high-capita markets like the US, Europe, and the UAE. With over 98% of its demand coming from outside India, the company is well-positioned to exceed $1 billion in revenue within the next 12 months. This growth trajectory is supported by its recent pre-IPO funding round, which raised Rs 250 crore, and its plans to go public by the end of the year.
As Captain Fresh prepares for its IPO, it aims to attract more investors and strengthen its balance sheet. The fresh capital will be instrumental in doubling operating profits and expanding margins. However, the company faces challenges such as managing rapid global expansion and navigating the complexities of international seafood supply chains. Maintaining profitability while scaling operations will be crucial as it moves towards its ambitious goals.
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