India's Captain Fresh in talks to raise $50 million in new funding

Captain Fresh, a business-to-business harvest-to-retail marketplace for animal protein, is engaging with investors to raise up to $50 million in fresh funding, according to sources familiar with the matter.

The startup is in advanced stages of deliberations to raise the capital from Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures, the sources said, requesting anonymity as the matter is private.

Captain Fresh declined to comment.

The startup specifically focuses on seafood, helping fishermen and farmers sell their catch and livestock to businesses. It has set up dozens of collection centers in multiple countries where it collects the catch and then sells to thousands of businesses across coastal states.

Captain Fresh has raised over $100 million prior to the new funding and was valued at $500 million in the previous round, whose first tranche it closed in March 2022. It has since extended that round to raise another $15 million or so.