Tuesday, September 26, 2023
HomeInsightFunding Alert Captain Fresh raises $7.5 mn Funding From Evolvence Group

[Funding alert] Captain Fresh raises $7.5 mn Funding From Evolvence Group

Captain Fresh
Captain Fresh

Captain Fresh, a tech-enabled B2B animal protein marketplace has raised around $7.5 Million in its extended Series C funding round from Evolvence Group.

As per the company’s regulatory filings show, Shareholders of Captain Fresh have approved the allotment of 566 Series C CCPS for Rs 56.51 crore or $7.5 million at an issue price of Rs 9,98,369 per share.

Following this investment, Evolvence India has acquired a 1.54% stake in the company, which is valued at over $500 million. Last month, the startup has raised $50 million in its Series C funding round co-led by Prosus Ventures and Tiger Global.

The Bengaluru-based Captain Fresh was founded in 2019 by Utham Gowda, It is a farm-to-retail platform for animal proteins – fish, seafood, and sheep.

It procures directly from agents and farmers, and supplies in B2B, B2R, and B2B2C channels providing fish and other animal proteins at a competitive price as compared to unorganized channels.

Captain Fresh claims to have a tech-enabled distribution network that spans over 20 cities and over 2,500 retail businesses.

In December 2021, Captain Fresh had raised $40 millionfromTiger Global and Prosus Ventures.

Last year in July,  the startup had raised $12 million in its Series A funding round from Accel along with the participation from existing investors Matrix Partners India, Ankur Capital, as well as, Incubate Fund.

About Captain Fresh

They are a B2B marketplace leveraging technology to deliver the fastest harvest-to-retail in the industry. Their constant endeavour is to help farmers generate more revenue and businesses supply the freshest fish and seafood to their customers. They achieve this with deliberate efforts to build a data and deep tech-driven platform to power their supply chain.

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