Seafood tech startup Captain Fresh raised $25 M in ongoing funding round

A $25 million funding round has been completed by the fish and seafood tech startup Captain Fresh as part of a larger funding round. Nekkanti Seafoods Group, British International Investment (BII), an impact investor and development finance institution based in the UK, and a few family offices have joined the series C round extension.

The company stated in a press release that the proceeds will be utilized, among other things, to strengthen its multi-origin vertically integrated seafood platform and expand its distribution presence in the US and Europe.

Together with the $20 million it raised in September of last year, Captain Fresh has now raised a total of $45 million in its Series C extended round through multiple tranches. The first tranche was led by Strategic Business Innovators (SBI) and Evolvence Fund, with participation from Matrix Partners India, Prosus, Accel, and Tiger Global. In January of this year, the company also raised $13 million, and at $48 million, it will close the extended Series C.

The product line of five-year-old Captain Fresh includes more than 100 species of fish and seafood that are imported from more than a dozen nations and sold to consumers in more than 30 countries. There are offices of Captain Fresh in the US, Dubai, Paris, Oslo, Amsterdam, Madrid, and India.

According to the company, it handles more than 80,000 metric tonnes of seafood a year, 90% of which comes from India. Southeast Asia also contributes a small portion of the demand.

Senecrus, a 40-year-old shrimp cooker and distributor located in Paris, was recently acquired by Captain Fresh as part of its EU expansion strategy.