Captain Fresh plans to use the funds to support domestic and global expansion. Here are the top-line bullets you need to know.
Captain Fresh, a supply chain platform for fish and seafood, has raised $40M in Series B round that drew participation from Matrix Partners India, Prosus Ventures, 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.
- The company caters to 2K retail businesses and has about 400 suppliers.
- Captain Fresh maintains 10 distribution centers in over 20 cities.
- The company’s revenue grew 6x over the past year, and it is currently on an annual revenue run rate of around $50M.
Source: Captain Fresh
WHY DOES THE MARKET MATTER?
- The global B2B e-commerce market is projected 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.