India’s thriving $20 billion seafood market suffers from profound inefficiencies. A systemic lack of coordination along the seafood supply chain, featuring a complex and fragmented array of intermediaries, results in overharvesting, high demand for cold storage, and a 33 percent product spoilage rate that is triple the global average.
The Bengaluru-based company Captain Fresh aims to address seafood supply chain inefficiencies with a digital B2B platform that employs real-time data analytics to match supply with demand, ensuring efficient seafood delivery to retailers. The solution curtails wastage and carbon-emitting refrigeration while improving traceability and increasing farmer and fisherfolk revenues.
Captain Fresh achieved 10x revenue growth in 2021 and as of Q1 2022 was working with more than 550 seafood retailers. In March 2022, the company finalized a $50 million Series C funding round led by existing investors Prosus Ventures and Tiger Global Management, bringing its VC funding to-date to more than $100 million.