B2B seafood marketplace, Captain Fresh has elevated $40 million Series B funding from Tiger Worldwide and Prosus Ventures (previously Naspers Ventures).
Existing traders these as Matrix Partners India, Accel India, Ankur Money and Incubate Fund also participated in the spherical.
Established in 2019 by Utham Gowda, Captain Clean is a farm-to-retail platform for seafood and freshwater fishes. It procures fishes/seafood right from the agents/farmers, and supplies across B2B, B2R and B2B2C channels, delivering fishes at competitive pricing when compared to unorganised channels.
Captain Fresh claims to have a distribution community of 20 towns and far more than 2,000 retail firms. Captain Clean empowers small fishermen and farmers through its platform that aggregates the fragmented retail demand from customers from across the state.
Via this money infusion, the organization programs to create tech interventions and deeper tech integrations throughout the source and demand facet network, these kinds of as, a true-time investing market, pricing and high-quality standardization employing AI, as nicely as the software of robotic automation to go enormous volumes with precision. Captain Fresh will also utilise the money towards expanding its team and distribution community throughout geographies.
Utham Gowda, Chief Govt Officer and Founder, Captain Refreshing, stated, “For hundreds of years, the fish and seafood business has stayed the exact same with incredibly small innovation and we have a one of a kind possibility to revolutionise the sector utilising technological innovation. We are thrilled to have investors like Tiger, Prosus Ventures, Accel and Matrix think in us, adhering to early backers Ankur Money and Incubate Fund, which obviously emboldens our eyesight. We are aggressively increasing our aspirations across all proportions – items, value chain presence, and markets – to generate an establishment that could determine our generation.”
Captain Contemporary has documented 6x progress in the very last 12 months and its reseller section (B2B2C) has demonstrated an increase of 20x within just a few months of start, retailing about 1.2 million kg of fish and seafood each individual month.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said, “We are thrilled to spouse with Captain Clean in their objective to remodel a extremely fragmented and inefficient market. The staff has shown outstanding execution and solid device economics. We are confident about their ability to utilise engineering to solve for performance and scalability worries and at the similar time make a incredibly optimistic effects on a massive quantity of fishermen in the region.”