Fresh captain, business-to-business seafood market (B2B), has accumulated $ 40 million (RS 302 Crore) in the Round of the B series investment led by Global Tiger and Ventures Prosus on assessment of $ 200 million (Rs 1,512 Crore).

There are investors who are accel India, Indian Matrix partners, Ankur Capital, and Incubate Fund also participate in the round.

This round appeared several months after captain Fresh raised the series for $ 12 million with a $ 50 million rating.

Starting in April 2019, Captain Fresh focused on the aggregate of fragmented retail demand throughout the country and linked it to small fishermen and farmers.

Startups will use funds to build deeper technology integration across the supply network and demand side such as the real time trade market, price and quality standardization using artificial intelligence, and the application of robot automation to move large volumes.

The company will also seek to launch the US and European market in the next quarter and expand in the state including Kerala, Tamil Nadu and West Bengal.

The fresh captain will also take advantage of the funds to employ and expand his team.

Talking with MoneyControl, Founder and Chief Executive Utham Gowda said that the company has grown 6x in the last 12 months and 3x in revenue from July this year.

The company currently works with 2,000 businesses a month, including offline, online retailers, general trading, micro entrepreneurs. “We work with the entire retailer spectrum and meet the demands in terms of quality, volume, etc. But, we want to be an open ecosystem and work more with microentreneurs,” Gowda said. The company’s reseller segment has grown 20 times within three months of launch, retail of around 1.2 million kg of fish and seafood every month, said the company.

“We aggressively expand our aspirations in all dimensions, presence of value chains, and markets – to create institutions that can define our generation,” Gowda said.

Elluminate Capital acts as an exclusive financial advisor for fresh captains on transactions.

“The fresh captain has experienced exponential growth over the past 12 months and raising funds is proof of a business model that supports their first technology that has helped them scale quickly while increasing the economy by optimizing losses and dumps in seafood supply chains,” they said Sudipto Sannigrahi , Principal, Indian Matrix.