Seafood Startup Captain Fresh Raises $12Mn In Funding

Seafood startup Captain Fresh has raised ₹100 crore (around $12 million) in funding, led by Motilal Oswal Wealth Limited, as per regulatory filings.

Captain Fresh’s board has approved a special resolution to issue 1,002 preference shares at ₹9,98,399 each, raising ₹100 crore (around $12 million), according to filings with the Registrar of Companies (RoC). 

After the investment, Motilal Oswal will own a 2.26% stake in the company. Startup data platform TheKredible estimates Captain Fresh’s valuation at ₹4,424 crore ($526 million) post-allotment.

Read also - Bengaluru-based Leanworx has Secured Rs 8.3 crore in Seed Funding

Captain Fresh has restructured by issuing preference shares in its Indian arm to shareholders of its Norway entity. As part of this, the company issued 2,355 preference shares valued at ₹235 crore ($28 million) to investors like GRWC Holdings, Futura Simul Fundacja, Nathon G Torch, and Jeffery Stern as non-cash consideration, according to a separate resolution.

Earlier this year,  Captain Fresh raised $48 million in a funding round led by Japan-based SBI Investment, Evolvence Capital, UK-based British International Investment and Nekkanti Seafoods Group. The round also saw the participation of Matrix Partners, Ankur Capital, Prosus, and Tiger Global.

About Captain Fresh

Bengaluru-based Captain Fresh was founded in 2019 by Utham Gowda; it operates as a farm-to-retail platform specializing in seafood.

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Since its inception, Captain Fresh has offered over 100 types of fish and seafood, sourced from more than 12 countries and serving customers in over 30 countries. The company has offices in India, the US, Dubai, Paris, Oslo, Amsterdam, and Madrid.

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