Captain Fresh: Sailing Strong in the Seafood Tech Industry
February 20, 2024, 10:57 am
Location: India, Karnataka, Bengaluru
Employees: 201-500
Founded date: 2019
Total raised: $710.81M
Captain Fresh, a fish and seafood tech startup, has secured a hefty $25 million in ongoing funding, setting sail towards expansion in the US and European markets. The company's multi-origin vertically integrated seafood platform is set to receive a boost, thanks to investments from Nekkanti Seafoods Group, British International Investment (BII), and a few family offices. This funding round is part of a larger $48 million extended round, with Captain Fresh having already raised $20 million in September last year.
Captain Fresh's product portfolio boasts over 100 species of fish and seafood sourced from various countries, catering to customers in more than 30 countries. With offices in India, the US, Dubai, Paris, Oslo, Amsterdam, and Madrid, the company handles a whopping 80,000 metric tonnes of seafood annually, with India accounting for 90% of this supply.
In a strategic move to bolster its European presence, Captain Fresh recently acquired Senecrus, a Paris-based shrimp cooker and distributor. The company's gross revenue has seen a significant surge, nearly quadrupling to Rs 817 crore in the fiscal year ending March 2023. However, losses have also increased, reaching Rs 294 crore in the same period.
Looking ahead, Captain Fresh aims to fully integrate its operations in the US and Europe, transitioning from being just an exporter to also distributing its products independently. The company plans to invest in expanding its supply chain in Southeast Asia, sourcing products from countries like Indonesia and Malaysia. With a strong focus on international markets, Captain Fresh is on course to achieve profitability and solidify its position as a key player in the seafood tech industry.
Captain Fresh's product portfolio boasts over 100 species of fish and seafood sourced from various countries, catering to customers in more than 30 countries. With offices in India, the US, Dubai, Paris, Oslo, Amsterdam, and Madrid, the company handles a whopping 80,000 metric tonnes of seafood annually, with India accounting for 90% of this supply.
In a strategic move to bolster its European presence, Captain Fresh recently acquired Senecrus, a Paris-based shrimp cooker and distributor. The company's gross revenue has seen a significant surge, nearly quadrupling to Rs 817 crore in the fiscal year ending March 2023. However, losses have also increased, reaching Rs 294 crore in the same period.
Looking ahead, Captain Fresh aims to fully integrate its operations in the US and Europe, transitioning from being just an exporter to also distributing its products independently. The company plans to invest in expanding its supply chain in Southeast Asia, sourcing products from countries like Indonesia and Malaysia. With a strong focus on international markets, Captain Fresh is on course to achieve profitability and solidify its position as a key player in the seafood tech industry.