Captain Fresh is known to be an online seafood firm. It has been able to raise around $25 million in a funding round. This funding round was led by UK government-backed British international investment as well as the Andhra-based Nekkanti Seafoods Group.
The funding is known to be part of an ongoing $48 million extended Series C fund. It led to the total value of the company being $500 million. Captain Fresh previously raised around $20 million. It was led by Japan-based SBI investment as well as Evolvence Capital, along with participation from Prosus, Matrix Partners India, Tiger Global, etc.
Captain Fresh: Its additional capital and expansion
Captain Fresh is working to secure an additional investment from SBO of around $3 million. This investment is to strengthen the financial base of the company.
Also, the raised capital will be used to expand the company’s operations in the US as well as European markets. There are other plans to increase the supply chain in Southeast Asia. The focus will be on sourcing from countries such as Indonesia, Malaysia, etc.
Captain Fresh: Impact on the Distribution of Global Seafood
The operational model of Captain Fresh revolves around a business-to-business format. However, this will undergo a major transformation, according to the statement given by the company.
The startup anticipates that in the upcoming 2-3 weeks, around 50% of its entire business is going to come from the US market. This is a big increase from the ongoing 25–30 percent.
Along with this, the European and US markets together will account for around 80–85 percent of the entire business. This shift in the company is a major change from focusing on the Indian markets to working on international exports. All of this is going to offer a lucrative path for Captain Fresh to better profitability.
Captain Fresh is on its path to revolutionizing the seafood industry.
Captain Fresh is aiming to bring about a big change in the traditional seafood industry. This is going to happen by implementing great practices as well as leveraging technology to modernize supply chains.
The startup’s offices are located globally, like in the US, Dubai, Amsterdam, Madrid, etc., and the company is on its way to better growth.
In its product portfolio, Captain Fresh boosts around 100 species of fish as well as seafood. All of it is sourced from more than a dozen countries across the globe. The company caters to the needs of customers in more than 30 countries.
As per Utham Gowda, who is the founder and CEO of Captain Fresh, the strategy of the company is to focus on the top-notch quality of seafood supplies. This will be done by using a technology-led asset-light model.
