This news comes on the heels of its Series C round. The company plans to use the funds to explore acquisition opportunities. Here are the top-line bullets you need to know.
Captain Fresh, a supply chain platform for fish and seafood, has raised $50M in a Series C round that drew participation from Accel, Prosus Ventures, Incubate Fund India, and Tiger Global Management, among others.
HOW’S THE COMPANY PERFORMING?
- India-based Captain Fresh operates a B2B marketplace that connects fish and seafood retailers with fishermen and farmers. It also provides delivery services.
- Its tech-enabled distribution network covers 20+ Indian cities and over 2.5K retail businesses.
- The company’s main export markets are the United States, Europe, and West Asia, but it is planning to expand into Africa and other parts of Asia.
- It maintains an office in Karnataka, India.
- Since its last funding round in December, its valuation has more than doubled to reach $500M.
Source: Captain Fresh
WHY DOES THE MARKET MATTER?
- The global B2B e-commerce market is expected to reach a value of $25.65T by 2028, growing at a CAGR of 18.7%, according to Grand View Research.
- Several vendors and suppliers from high-performing economies have adopted digital transformation initiatives to ensure smooth operations, which has led to a growing demand for technologies to help manage procurement and sales, payments processing, delivery, and more.
- The rise in online purchase volume amid the Covid-19 pandemic has contributed to growth in this market.
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