Captain Fresh Secures ₹100 Crore Funding from Motilal Oswal Wealth Limited

- Aishwarya Bhatt  December 29, 2024

Bengaluru-based Captain Fresh, a pioneering B2B seafood marketplace, has raised ₹100 crore (approximately $12 million) in a funding round led by Motilal Oswal Wealth Limited, according to regulatory filings. The company issued 1,002 preference shares at a price of ₹9,98,399 per share. With this funding now, Motilal Oswal Wealth has a 2.26% stake in Captain Fresh.

Founded in 2019 by Utham Gowda, Captain Fresh has been on a mission to transform the seafood supply chain. The company operates as a farm-to-retail platform, leveraging technology to streamline fresh fish and seafood procurement and distribution. By focusing on demand-supply optimization, e-auction sourcing, standardized supplies, and digital traceability, Captain Fresh has built a trusted network for seafood retailers across India and beyond.

Before Motilal Oswal's investment, Captain Fresh secured a $7 million investment from British International Investment earlier last year. In all, they have raised more than $160 million over numerous rounds with 38 investors.

With the new investors on board, Captain Fresh has experienced rapid growth, scaling its operations globally. And that's not all; Captain Fresh is also preparing for an initial public offering (IPO), in which they want to raise $350 to $400 million. This will be possible at a valuation between $1.3 billion and $1.5 billion. 

With its innovative platform, Captain Fresh empowers businesses across the seafood supply chain. The company bridges gaps in logistics, pricing, and quality assurance from fishermen and producers to retailers. Its global expansion signals its ambition to become a key player in international markets, bringing the best of India's seafood to the world.