Accel Partners, Matrix India lead USD 12 Mn funding in Captain Fresh

B2B tech marketplace for seafood, Captain Fresh, has reportedly bagged USD 12 million Series A funding, led by Accel Partners and existing investor Matrix Partners India. The funding also saw participation from Incubate Fund and Ankur Capital.

Other contributors included angel investors such as Livspace’s Ramakanth Sharma, Infra.Market’s Souvik Sengupta, OfBusiness’ Asish Mohapatra & Ruchi Kalra, Jupiter’s Jitendra Gupta, BlackBuck’s Rajesh Yabaji, Mosaic Wellness’ Revant Bhate, and PayU’s Amrish Rau.

This is the third time in eight months that Captain Fresh has raised funding. The startup will use this fresh capital to make greater investments on the supply-side tech, develop a worldwide distribution chain, and strengthen its team, cited sources close to the matter.

It is worth noting that Venugopal Annamaneni, the ex-Head of Engineering of Livspace, and Abhishek Sudhakar, ex-Senior Director of Myntra, have recently joined the leadership team of the company.

Founder and CEO of Captain Fresh, Utham Gowda, stated that over the last two years the startup has reinstated the plan for efficiently computing demand and supply, substantiated by a 10X faster growth through the pandemic.

The company is now a highly capital-efficient business model, backed by a high-quality investor set. The firm is honored to have Accel join Matrix, ADB Ventures, Incubate, Ankur, including others on its capitalization table, he added.

Captain Fresh, founded by Utham Gowda in 2019, aims to modify and streamline the complex fish and seafood supply chain. It considers that this trade although being much old has many unsolved problems, which it plans to solve by combining a digital commerce platform and a physical fulfillment layer to systematically provide decent, transparent, and efficient purchase experiences for dealers across various formats.

Captain Fresh is actively using advanced technologies to ease and optimize the supply chain, helping deliver around 20,000 kgs of fresh supplies of 50+ species which are sourced from over 30 different coasts daily.

Source Credits:

https://yourstory.com/2021/07/funding-seafood-meat-startup-captain-fresh-12m-seriesa-matrix-accel/amp