Captain Fresh, a Bengaluru, India-based AI-powered seafood marketplace, raised $40 million in a Series B funding round was led by Tiger Global and Prosus Ventures, the venture arm of Dutch internet conglomerate Prosus.
Existing investors Accel India, Ankur Capital, Incubate Fund, and Matrix Partners India also participated in the round.
The startup will use the funds to “build tech interventions and deeper tech integrations across the supply and demand-side networks, such as a real-time trading marketplace, pricing and quality standardization using AI, as well as the application of robotic automation to move massive volumes with precision,”.
Company: Infifresh Foods Pvt. Ltd.
Raised: $40.0M
Round: Series B
Funding Month: December 2021
Lead Investors: Tiger Global and Prosus Ventures
Additional Investors: Accel India, Ankur Capital, Incubate Fund, and Matrix Partners India
Company Website: https://www.captainfresh.in/
Software Category: AI-powered seafood marketplace
About the Company: Captain Fresh is a freshwater fish and seafood supply chain platform that connects small fishermen and farmers from across the country. Captain Fresh is a B2B marketplace leveraging technology to deliver the fastest harvest-to-retail in the industry. Captain Fresh uses digital technology to streamline India’s fragmented $30 billion seafood industry. Captain Fresh’s predictive models help source supplies of specific fish days before customers place orders, enabling overnight delivery to some cities. Captain Fresh has demonstrated six-fold growth in 12 months and is transforming retail across B2R, B2B, and B2B2C segments. Its reseller segment (B2B2C) has demonstrated an increase of 20x within just three months of launch, retailing about 1.2M kgs of fish and seafood every month. Its positive unit economics, coupled with industry-leading gross margins, high frequency, and rapid expansion makes it the leading fish & seafood marketplace in India. The company was founded in 2019 and is based in Bengaluru, India.
Source: https://www.forbes.com/sites/ralphjennings/2021/12/24/ai-powered-seafood-marketplace-startup-raises-40-million-from-tiger-global-and-prosus-ventures/?sh=5d4950f3277d