In an extended series C financing, B2B and B2B2C seafood marketplace and supply chain Captain Fresh secured Rs 110 crore.
The company stated in a filing with the Registrar of Companies that the cash was obtained through the issuance of 1,102 convertible preference shares at a price of more than Rs 9 lakh apiece, as reported by The Economic Times.
Captain Fresh empowers local fisherman and delights businesses with dependable, convenient, and fresh supplies by utilising AI, ML, IoT, Data & Analytics, and other cutting-edge technology.
Nekkanti Sea Foods, led the financing tranche with a capital investment of Rs 50 crore, or $6 million, followed by Rs 30 crore from Shakti Finvest Pvt Ltd. The remaining amounts of Rs 2.50 crore and Rs 27.46 crore were invested by Shibu Mathai and Ravi Shankar Pemmasani, respectively.
Captain Fresh operates in the business-to-business (B2B) sector, providing seafood and meat products to Indian vendors as well as other foreign markets in the US, Europe, and the Middle East.
About Captain Fresh
Captain Fresh was founded by Utham Gowda in 2019, their goal was to provide outstanding solutions to fuel the seafood supply chain.
They are at the forefront of developing cutting-edge solutions, such as a multi-channel demand generation engine, customised ERP, enhanced digital factory management, and a seamless platform for e-auctions and community connect. They currently serve 120+ merchants in 10 locations and collaborate with over 2500 enterprises.