In its ongoing pre-IPO investment round, Captain Fresh, a prominent seafood supply chain firm, has raised ₹250 crore, or roughly $30 million. In addition to prominent investors like Sriharsha Majety’s family office (co-founder of Swiggy), Sid Khanna (chairman of India Equity Partners), Sunjay Kapur (chairman of Sona Comstar), and Shivalik Prints, a multinational textile and apparel manufacturer, the round was led by Prosus Ventures, Accel, and Tiger Global Management.

With more than 98% of its demand now coming from outside markets, Captain Fresh has transformed over the last two years into a genuinely global business. “With this investment, we will be able to generate over $1 billion in revenue over the course of the next 12 months, putting us in the top 25 seafood companies globally. Utham Gowda, the founder and group CEO of Captain Fresh, added, “We have also set the stage for margin expansion and 2X operational profitability.

Gowda further underlined that the new funding will strengthen the company’s balance sheet and provide a solid basis for its impending initial public offering. Axis Capital and BofA have been recruited as Captain Fresh’s bankers for a projected $350-400 million initial public offering (IPO), which the company plans to file for by the end of this year.

With offices located in Chicago, West Palm Beach, Paris, Madrid, Amsterdam, Oslo, Gdynia, and Dubai, in addition to its headquarters in Bengaluru, Captain Fresh has a global presence. In order to meet the rising demand in important markets including the US, Europe, and the United Arab Emirates, the company sources a range of seafood from the Pacific, Atlantic, and Indian Oceans.

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