Captain Fresh, a business-to-business (B2B) fish and seafood company, announced a $20 million capital infusion as part of a continuing funding round. This investment was led by Japan-based SBI Investment and Evolvence Capital, complemented by continued backing from internal investors, including Accel, Matrix Partners India, Prosus Ventures and Tiger Global.  

Captain Fresh is also backed by Ankur Capital and Incubate Fund. According to the company, the freshly raised capital will be used towards the brand's global expansion aspirations, particularly focusing on Europe and the USA.   

“We stand at a transformative juncture in our aim to establish Captain Fresh on the global stage. Over the past three years, we’ve built significant supply side capacity by establishing a robust network connecting us directly to Indian coastal fishermen and farmers,” said founder Utham Gowda.  

Captain Fresh's product range encompasses over 100 varieties of fish and seafood, catering to clients in around 30 countries worldwide.

At present, the Indian Ocean region accounts for the entirety of the platform's supply, with India constituting 90 per cent of this. In terms of demand, Europe, the US, and India each contribute roughly equal shares, with the remaining demand stemming from Southeast Asia.

Yoshitaka Kitao, chairman and CEO of SBI Investment, said, "As the vertical leader and technology-driven company, Captain Fresh is revolutionizing the B2B seafood marketplace and supply chain. We believe in the management’s vision". 

Rohit Batra, the managing partner at Evolvence India, added, “We are excited to deepen our partnership with Captain Fresh and support in their journey to reshape the complex supply chain in the seafood industry globally."

Since its inception in 2019, Captain Fresh has raised Rs $146.5 million in funding across seven rounds.