B2B seafood marketplace, Captain Contemporary has raised $40 million Sequence B funding from Tiger Global and Prosus Ventures (previously Naspers Ventures).
Existing buyers these types of as Matrix Companions India, Accel India, Ankur Cash and Incubate Fund also participated in the round.
Launched in 2019 by Utham Gowda, Captain Refreshing is a farm-to-retail platform for seafood and freshwater fishes. It procures fishes/seafood right from the agents/farmers, and provides throughout B2B, B2R and B2B2C channels, giving fishes at competitive pricing compared to unorganised channels.
Captain Clean claims to have a distribution network of 20 towns and a lot more than 2,000 retail enterprises. Captain Fresh new empowers little fishermen and farmers by way of its system that aggregates the fragmented retail demand from across the region.
By way of this capital infusion, the organization strategies to construct tech interventions and further tech integrations throughout the offer and demand from customers facet network, these kinds of as, a authentic-time investing marketplace, pricing and good quality standardization working with AI, as perfectly as the software of robotic automation to move substantial volumes with precision. Captain Fresh will also utilise the resources towards increasing its group and distribution community across geographies.
Utham Gowda, Main Govt Officer and Founder, Captain Fresh, reported, “For generations, the fish and seafood field has stayed the very same with quite minor innovation and we have a exceptional chance to revolutionise the sector utilising technology. We are thrilled to have traders like Tiger, Prosus Ventures, Accel and Matrix feel in us, adhering to early backers Ankur Cash and Incubate Fund, which plainly emboldens our eyesight. We are aggressively increasing our aspirations throughout all dimensions – merchandise, benefit chain presence, and markets – to develop an establishment that could determine our generation.”
Captain Fresh new has described 6x development in the previous 12 months and its reseller phase (B2B2C) has shown an improve of 20x in just a few months of start, retailing about 1.2 million kg of fish and seafood every single thirty day period.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, mentioned, “We are thrilled to partner with Captain Refreshing in their goal to remodel a very fragmented and inefficient industry. The crew has shown extraordinary execution and powerful unit economics. We are self-confident about their potential to utilise know-how to address for efficiency and scalability troubles and at the same time make a quite constructive impact on a large selection of fishermen in the country.”