B2B seafood marketplace Captain Fresh has announced that it has secured $12 million in Accel Partners led Series A funding round. The round also saw participation from existing investor Matrix Partners India along with Incubate Fund and Ankur Capital.
Angel investors including Asish Mohapatra and Ruchi Kalra, Jitendra Gupta, Souvik Sengupta, Revant Bhate, Rajesh Yabaji, Amrish Rau and Ramakanth Sharma also participated in the latest funding round.
Utham Gowda, Founder and CEO, Captain Fresh, commented, “Over the last 24 odd months, we have iterated and fine-tuned the playbook for efficiently aggregating demand and supply, validated by a 10X growth spurt through the pandemic. We are thrilled to find ourselves at this unique intersection of a largely unsolved problem, a highly capital-efficient business model, and backed by a high-quality investor set. We are privileged to have Accel join Matrix, Ankur, Incubate, ADB Ventures, and others on our cap-table.”
Sudipto Sannigrahi, Vice President at Matrix India, added, “Captain Fresh aims to disrupt the $400 billion global fresh fish and seafood market by creating a tech-enabled B2B supply chain that can deliver better quality at competitive prices with a focus on reduction in wastage. The company has grown rapidly over the last 12 months, and we believe that it is uniquely positioned to scale profitably across domestic and international markets as a consequence of its tech-driven sourcing and supply chain capabilities.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.