Captain Fresh, an Indian B2B marketplace specializing in the animal protein sector, is reportedly in advanced talks to raise up to $50 million in a new funding round.
The startup focuses on the seafood industry, providing a platform for fishermen and farmers to sell their catch and livestock to businesses. It operates multiple collection centers across various countries, facilitating the procurement and distribution process. The new funds, if secured, are expected to support the company’s expansion plans and enhance its marketplace offerings.
Investors in Consideration
The funding discussions involve notable investors, including Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures. These investors could contribute to Captain Fresh’s growth and help consolidate its position in the market. The startup has been successful in previous funding rounds, having raised over $100 million and achieving a valuation of $500 million in its last funding round in March 2022.
B2B Seafood Marketplace Model
Captain Fresh’s B2B model in the seafood industry involves setting up collection centers to streamline the process of acquiring catch and livestock from fishermen and farmers. The platform then connects these suppliers with thousands of businesses across coastal states. The marketplace aims to play a crucial role in the seafood supply chain, contributing to the efficiency and accessibility of the market.
Previous Funding and Valuation
Captain Fresh’s valuation reached $500 million in its previous funding round, which initially closed in March 2022. The startup has extended this round to raise an additional $15 million. With the new funding round, Captain Fresh is poised to strengthen its position in the market, capitalize on emerging opportunities, and continue its mission of creating a robust and efficient marketplace for the animal protein industry.