Captain Fresh, a Bengaluru-based tech-led seafood supply chain company, has announced that it has successfully raised ₹250 crore in its ongoing pre-IPO funding round. This strategic funding is going to propel the company’s growth trajectory as it looks to redefine the global seafood supply chain landscape.

Captain Fresh was founded in 2020 by visionary entrepreneur Utham Gowda. It has rapidly emerged as a leader in the seafood industry. The company uses advanced technology to streamline and enhance supply chain efficiencies between seafood producers and consumers. Captain Fresh’s mission is to ensure that high-quality fish and seafood reach consumers’ plates by optimizing procurement, distribution, and delivery processes.

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The founder and CEO of Captain Fresh, Utham Gowda, has driven the company up to the ladder in a flash. With in-depth knowledge about the seafood market and an innovative sense of technological acumen, Gowda guided Captain Fresh into a global arena. Under his leadership, the company has broadened its presence outside India into international markets while making a reputation for itself in the seafood supply chain.

The last round of pre-IPO funding raised ₹250 crore, and both existing and new investors participated, including leading family offices. It is a clear indication of how much the investors believe in Captain Fresh’s vision and its potential for growth. The company had earlier received ₹100 crore from Motilal Oswal Wealth Limited as a funding source that further solidified its financial structure.

Captain Fresh has had great financial growth since its foundation. As of March 31, 2024, the company had reported an annual revenue of $172 million.

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the company is poised to exceed $1 billion in revenue within the next 12 months, a milestone that would position it among the top 25 seafood players globally. This ambitious target reflects Captain Fresh’s commitment to scaling its operations and expanding its market reach.

Over the past 24 months, Captain Fresh has evolved to become a company that is pretty much a globally integrated business: more than 98% of its demand today comes from outside India. So, the reason why it stands out is in terms of their ability to operate in multiple geographies and fill the gap growing demand for the quality seafood of the world with the help of technology and a well-achieved supply chain management.

Besides its funding successes, Captain Fresh has been aggressive in strategic partnerships to further its market position. For instance, the company recently has entered a joint venture with Norwegian salmon trader and processor Sekkingstad Group. “This partnership will further strengthen our supply chains and also enhance our product offerings, especially in high-end seafood products,

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Underlying the operations of Captain Fresh lies a concern for technological innovation. It avails an online platform that connects seafood suppliers to retailers, gives them the opportunity to conduct e-auctions while sourcing, standardizes supplies, ensures on-time payments, and uses digital traceability systems. The digitized methods have made operations more fluid, removed inefficiencies, and increased the transparency in the supply chain, thus helping out both the producers and consumers.

With the latest capital infusion and its strategic initiatives, Captain Fresh is poised for further growth up the ladder. The company is poised to experience sustained growth in the coming years with a focus on technological innovation, global expansion, and strategic partnerships. Before it plans for an initial public offering in the next financial year, Captain Fresh is keen to establish itself as a leader in the global seafood supply chain industry.