Tiger Global-Backed Indian Seafood Marketplace Startup More Than Doubles Valuation In Three Months

Captain Fresh, an AI-powered seafood marketplace startup based in Bengaluru, has raised $50 million in Series C funding, more than doubling its valuation to $500 million in just three months, according to media reports.

The round was led by existing investors Prosus Ventures and Tiger Global. Prosus Ventures is the venture arm of Dutch internet conglomerate Prosus, which is best known as the largest shareholder of Chinese internet giant Tencent. Prosus Ventures and Tiger Global also led Captain Fresh’s previous funding round in December.

Captain Fresh, an honoree of last year’s Forbes Asia 100 to Watch, connects farmers and fishermen to businesses with its AI-powered, real-time commerce platform, bridging the demand and supply gap for a waste-free, digital one-stop supply chain.

Apart from using the funding to grow its digital platform, the three-year-old startup has expansion plans outside of India. “This would be our market-entry beachhead as we look to foray into Africa, Middle East and other parts of Asia, led by our proprietary distribution and fulfilment engines,” Utham Gowda, founder and CEO of Captain Fresh, said in a statement.

Prior to Captain Fresh, Gowda worked in consumer and finance-related roles, including a stint at Nekkanti Sea Foods, one of India’s largest seafood exporters.