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Captain Fresh Nets ₹20 Cr: Seafood Startup Hooks New Funding Wave

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Bengaluru-based seafood startup Captain Fresh has raised ₹20 crore ($2.3 million) in debt funding from VentureSoul Partners. This marks the third investment from VentureSoul’s inaugural debt fund and is part of a larger funding round that includes both equity and debt.

When approached for comment, Captain Fresh declined to respond to Inc42’s queries. However, Kunal Wadhwa, co-founder and managing partner at VentureSoul Partners, expressed confidence in the startup’s potential. “Captain Fresh has shown impressive execution with large acquisitions. Their diverse product range and global footprint position them well for growth in both revenue and profitability,” said Wadhwa. He also highlighted the strength of the company’s leadership and management team as a key factor in the funding decision.

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Founded in 2019 by Utham Gowda, Captain Fresh is a tech-driven, vertically integrated seafood company. Its brand portfolio spans multiple international markets, including CenSea in the US, Koral in Europe, and Senecrus in France. The new funding will be used to fuel expansion and drive growth initiatives.

Captain Fresh’s notable backers include Accel, Prosus, Matrix Partners, Tiger Global, SBI Japan, Ankur Capital, British International Investment (BII), and Nekkanti Group. Recently, the startup raised ₹12 crore from Motilal Oswal Alternates in December 2024, following a $32 million funding round in February 2024 led by BII and Nekkanti Seafoods Group.

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Initially launched as a farm-to-retail platform for fish, shrimp, and seafood, Captain Fresh primarily operated through B2B and B2B2C channels in India. However, the company has since scaled back its B2B operations, with B2B2C services now restricted to select locations.

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