Fish and seafood tech startup, Captain Fresh, successfully raises $25 million in an extended Series C funding round, with contributions from Nekkanti Seafoods Group, British International Investment (BII), a UK-based development finance institution and impact investor, and select family offices. This latest funding will further support the company’s ongoing efforts to expand its distribution presence in the US and Europe while enhancing its multi-origin vertically integrated seafood platform.
The total raised in the extended Series C round now stands at $45 million, with the initial $20 million secured in September of the previous year. The first tranche was led by Strategic Business Innovators (SBI) and Evolvence fund, featuring participation from Tiger Global, Prosus, Accel, and Matrix Partners India. In January of this year, Captain Fresh added $13 million to its funding, bringing the extended Series C round close to its $48 million goal.
Captain Fresh, a B2B fish and seafood tech startup, is leveraging the funding to expand its distribution footprint in the US and Europe. Utham Gowda, Founder and CEO of Captain Fresh, stated, “Every dollar we raise now is being deployed to forward integrate the distribution side of the value chain, particularly in the US and Europe. We expect these moves to enrich the monetisation potential for seafood on our platform.”
The company recently completed the acquisition of Senecrus, a 40-year-old Paris-based shrimp cooker and distributor, as part of its EU expansion strategy. Senecrus, located at the Rungis market, one of Europe’s largest seafood markets, serves major retailers such as Auchan, Carrefour, and Metro.
Captain Fresh’s product portfolio spans over 100 species of fish and seafood, sourced from more than a dozen countries globally, catering to customers in over 30 countries. The firm, established five years ago, operates offices in India, the US, Dubai, Paris, Oslo, Amsterdam, and Madrid.
Abhinav Sinha, Managing Director and Head of Technology and Telecoms at BII, expressed, “By supporting Captain Fresh, we are delighted to be able to reach and support more fishermen with improved economic opportunities, as well as to promote sustainable production and reduce wastage.”
Captain Fresh continues its global expansion, having announced its entry into the African and Middle East markets during its $50 million Series C fundraise from Prosus Ventures and Tiger Global in 2022