Debt Financing Secured by Captain Fresh

Captain Fresh, a seafood supply chain startup, has secured Rs 288 crore (€27 million) in debt financing from Blue Earth Capital, a Switzerland-based investor.

Funding Details

The debt financing has been extended to Infifresh Foods Pvt Ltd, the parent entity of Captain Fresh. The funding will be utilized to strengthen the company's distribution network across global markets.

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Company Overview

Captain Fresh operates a technology-enabled platform that connects seafood suppliers, processors, and distributors across multiple markets. Founded in 2020 by Utham Gowda, the company sells seafood products across the United States, Europe, the UAE, and India, catering to distributors, food service providers, and retailers.

Key Statistics

• 1,300 customers across more than 30 countries
• 650 suppliers across 35 countries
• 90 seafood species, including shrimp, salmon, tuna, and lobster

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Proprietary Platform

Captain Fresh utilizes a proprietary software platform to manage sourcing, processing, and logistics across seafood supply chains, which are often fragmented and dominated by small suppliers.

IPO Plans

The funding comes as the company prepares for a public listing. Captain Fresh has confidentially filed draft IPO papers with the Securities and Exchange Board of India (Sebi) and is looking to raise around Rs 1,700 crore through a fresh issue of shares. The proposed public offering could value the firm at $1.3 billion to $1.5 billion. Axis Capital and Bank of America have been appointed as bankers for the proposed public offering.