Global packaged seafood company Captain Fresh, founded by CEO Utham Gowda in 2020, is raising Rs 120 crore in an equity round led by Gowda himself. The capital infusion aims to increase the founder’s stake in the company, with Gowda investing a significant portion through personal funds. Following this investment, Gowda’s shareholding is set to rise from 17% to nearly 19%.
Gowda will inject around Rs 100 crore through his entity Tigerlily Properties, with the remaining funds coming from investors like Avanti Feeds and Veer Growth Fund. The move comes after Captain Fresh recently secured Rs 290 crore in sustainability-linked financing.
While the company had earlier planned to raise Rs 1,700 crore through an IPO, it withdrew its draft papers to finalize an acquisition. Captain Fresh had previously received Rs 250 crore in pre-IPO funding from investors like Prosus Ventures and Accel. The company clarified that its IPO roadmap remains unchanged and will file fresh papers after concluding the ongoing acquisition.
For the fiscal year ended March 2025, Captain Fresh reported a 145% increase in gross merchandise value, reaching Rs 3,421 crore. The company operates a tech-driven B2B supply chain platform for packaged seafood, serving markets in India, the Middle East, Europe, and the US.
Source: Entrackr : Latest Posts