Capital Fresh, a B2B marketplace for the seafood supply chain, has now secured $3 million in seed funding backed by the Ankur Capital and Matrix Partners.
The round also saw participation from the Incubated Fund, along with the marquee investors like Jupiter Money and Pine Labs.
With this new funding, Capital Fresh will going to continue to expand operations and invest deeper in its sourcing and distribution capabilities, building a world-class team and invest in the latest technology.
The company, which is founded in the year 2019 by Utham Gowda, Capital Fresh, works as a full-stack marketplace platform that leverages technology to deliver freshwater fishes and seafood to retailers across all formats.
Utham Gowda, Chief Executive Officer and Founder, Captain Fresh, said in a press statement,
“We are digitally transforming the highly inefficient fresh fish and seafood supply chain in India by aggregating the fragmented retail demand across the country and linking them to the small fishermen and farmers throughout the Indian coast. We have witnessed 10x revenue growth in the last 18 months getting us closer to our $1 million per month milestone. We are particularly excited by our customers’ respect for us combined with the strong capital efficient and scalable business model we have been able to demonstrate in our early markets.”
The platform helps to deliver via a trusted seafood supply chain that relies on superior demand-supply matching, maintaining a digital traceability system and standardized supplies in order to streamline operations and re-imagine theB2B seafood ecosystem.
Tarun Davda, Managing Director, Matrix India said,
“Captain Fresh is organising the massive $30 billion-plus seafood supply chain in India with a simple promise — to provide better quality fish at more competitive prices compared to unorganised channels. As a result of their tech-driven approach and focus on reduction in wastage, they have seen rapid adoption across channels – from tech-first online brands to the more traditional general-trade retailers. We’re thrilled to be partnering with Utham and the team on this journey.”