Online seafood firm Captain Fresh raises $25 million from BII, Nekkanti
Online seafood firm Captain Fresh has raised $25 million in a funding round led by UK government-backed British International Investment (BII) and Andhra Pradesh-based Nekkanti Seafoods Group.
The funding was part of a larger $48 million extended funding round at a $500 million valuation, out of which $20 million had already been raised by the firm in September last year. That round had been led by Japan-based SBI Investment and Evolvence Capital, and had also seen participation from existing investors like Tiger Global, Prosus, Accel and Matrix Partners India.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMITMIT Technology Leadership and InnovationVisitThe firm is now in talks to close a further $3 million in funding from SBI Investment, its founder and chief executive Utham Gowda told ET in an interaction.
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“By supporting Captain Fresh, we are delighted to be able to reach and support more fishermen with improved economic opportunities, as well as to promote sustainable production and reduce wastage. We are also keen to support India's food exports as a way to support global food security,” Abhinav Sinha, managing director and head of technology and telecoms at BII, said in a statement.
Both BII and SBI Investment are first-time investors in the firm. Post this fundraise, Gowda will hold a 19% stake in the firm, followed by Matrix
