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Captain Fresh appoints Mathew George as Group CFO
Entrackr
·
1y ago
Medial
Captain Fresh, a B2B fish and seafood supply chain company, has announced the appointment of Mathew George as its Group chief financial officer (CFO). Prior to this appointment, Mathew was the Group CFO at Medi Assist Health Care Services, where he led multiple successful M&As. He was also instrumental in managing the company’s recent IPO, which was oversubscribed 14.3 times. Before this, Mathew had held leadership roles in Jumbo Electronics, HCL Technologies, Cognizant Technologies Accenture, GE Capital, and Genpact. We look forward to leveraging Mathew’s leadership as we aspire to evolve into a publicly listed institution,” said Utham Gowda, founder and chief executive officer, Captain Fresh. Starting as a seafood supply chain player, the four-year-old company has raised over $160 million in a series of funding rounds. In February, Captain Fresh had raised $25 million in its extended Series C round. During the same month, it acquired CenSea Inc., a US-based frozen fish and seafood importer and distributor. Captain Fresh India’s gross revenue surged 3.7X year-on-year (YoY) to Rs 773 crore in FY23 from Rs 208 crore in FY22. The firm registered a 2.45X jump in its losses to Rs 252 crore in FY23. While the company is yet to file its audited financials for FY24, it expects to close F25 with revenues of over $650 million (more than Rs 5,000 crore).
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Captain Fresh snags additional $25 mn under ongoing Series C round
VCCircle
·
1y ago
Medial
Indian B2B seafood provider Captain Fresh has raised $25m in an ongoing Series C funding round. The funds were secured from Nekkanti Seafoods Group, British International Investment, and several family offices. Captain Fresh has also acquired French shrimp distributor Senecrus as part of its EU expansion plans. The company aims to strengthen its distribution presence in the region through further acquisitions and joint ventures. Captain Fresh previously raised $20m in September 2023 and $50m in its initial Series C funding round in 2022. The latest funds will be used to improve distribution in the US and Europe.
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BigBasket appoints Manish Bajoria as CFO
Economic Times
·
1m ago
Medial
BigBasket, a Tata Group company, has appointed Manish Bajoria as its Chief Financial Officer (CFO). Bajoria brings over 20 years of experience in strategic finance, commercial management, and digital transformation from his previous roles at Vini Cosmetics, Amazon, and Hindustan Unilever. As CFO, he will oversee BigBasket's financial functions and help shape the company's financial strategy during its next phase of development, focusing on scaling and customer service enhancement.
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Online seafood firm Captain Fresh raises $25 million from BII, Nekkanti
Economic Times
·
1y ago
Medial
Captain Fresh, an online seafood company, has secured $25 million in funding led by British International Investment (BII) and Nekkanti Seafoods Group. The funding is part of a larger $48 million round that values the company at $500 million. Captain Fresh plans to use the funds to expand operations in the US and European markets and enhance its supply chain in Southeast Asia. The company aims to become fully vertically integrated and profitable by FY25.
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Online meat startup Captain Fresh raises Rs 100 crore from Motilal Oswal Wealth
Economic Times
·
7m ago
Medial
Bengaluru-based online meat and seafood firm Captain Fresh has secured Rs 100 crore in funding from Motilal Oswal Wealth, as it prepares for its planned public listing in 2023. The funding came in the form of 1,002 Series C11 compulsorily convertible preference shares, and following the investment, Motilal Oswal will hold a 2.26% stake in Captain Fresh. The company is currently in talks to appoint bankers for their upcoming IPO. Previously, Captain Fresh raised $48 million in February, led by SBI Investment and Evolvence Capital. Founded in 2019, Captain Fresh operates in the B2B model, supplying meat and seafood to sellers in India and global markets.
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Paisabazaar appoints new CEO; cofounder Naveen Kukreja moves to PB Fintech as group president
Economic Times
·
5m ago
Medial
Paisabazaar has appointed Santosh Agarwal as its new CEO, while co-founder Naveen Kukreja becomes group president of PB Fintech. Agarwal, previously Policybazaar's chief business officer, will lead Paisabazaar into new savings and pension products. The company faced a 20% decline in its credit distribution business, though secured lending saw revenue increase. Vivek Audichya, the CFO, will be replaced by Neeraj Tripathi as Audichya moves to Policybazaar as CFO.
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LTIMindtree appoints Vipul Chandra as CFO following Vinit Teredesa’s resignation
Thehindubusinessline
·
1y ago
Medial
Mindtree's Chief Financial Officer (CFO), Vinit Teredesai, has resigned from his position to explore opportunities outside the L&T Group. His resignation will be effective from April 24, 2024. Vipul Chandra, currently the Head of Treasury of Corporate Finance at Larsen and Toubro (L&T), will take over as the new CFO from April 25, 2024. Chandra brings with him over three decades of finance experience, having previously served as the Managing Director - Head of Corporate Sales & Structuring at Citibank. Mindtree's shares on the NSE were down 0.94% at ₹5,115.50.
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Captain Fresh acquires Poland-based salmon company Koral
Entrackr
·
1y ago
Medial
Seafood supply chain firm Captain Fresh has acquired Koral, a Poland-based producer and distributor of branded salmon products. Captain Fresh has signed the agreement with Abris Capital Partners, the ESG transformation specialist private equity investor, and Boguslaw Kowalski, the company’s founder. The transaction is subject to the Polish antimonopoly office and other regulatory approvals. Prior to this, Captain Fresh had acquired CenSea, an American importer of frozen seafood and Senecrus, a French shrimp cooker and distributor. The Bengaluru-based company says that Boguslaw Kowalski and Justyna Frankowska will lead its global salmon strategy. According to market research, the salmon market is estimated at $33.5 billion in 2024. Koral manufactures smoked salmon products that are sold across domestic and international markets under the brand SuperFish. The company has 26 production lines, processing 120 tons of fish daily. Launched in 2020 by Utham Gowda, Captain Fresh is an online B2B platform offering seafood products. The platform offers trade of seafood such as shrimps, salmon, tuna, crab, lobsters, and more. It procures, processes, and distributes for retailers. Its mobile application is available on Android and iOS platforms. Fresh Captain is backed by major investors including Tiger Global Management, Prosus Ventures, British International Investment, Matrix Partners India, Accel, SBI Holdings, Evolvence Group, Ankur Capital and Incubate Fund. It has raised $165 million till to date. The firm is expected to close the current financial year at a revenue run rate of $650 to $700 million.
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Captain Fresh raises $25 Mn in ongoing funding round
Entrackr
·
1y ago
Medial
Captain Fresh, a fish and seafood tech startup, has raised $25 million as part of a continuing larger funding round. The extension of the series C round is joined by Nekkanti seafoods group and British International Investment (BII), a UK-based development finance institution and impact investor, and a few family offices. Proceeds will be used to fuel its distribution presence in the US and Europe, and enhance multi-origin vertically integrated seafood platform, among others, the company said in a press release. With this, Captain Fresh has raised a total of $45 million across multiple tranches in its Series C extended round with $20 million raised in September last year. Strategic Business Innovators (SBI) and Evolvence fund led the first tranche with participation from Tiger Global, Prosus, Accel and Matrix Partners India. The firm also raised $13 million in January this year and will close the extended Series C at $48 million. As per startup data intelligence platform TheKredible, Captain Fresh was valued at around $480 million when it raised $13 million and is likely to close the ongoing round at $500 million. Five-year-old Captain Fresh’s product portfolio encompasses over 100 species of fish and seafood, sourced from over a dozen countries globally and catering to customers in more than 30 countries. Captain Fresh has offices in India, the US, Dubai, Paris, Oslo, Amsterdam and Madrid. The firm claims that it handles over 80,000 metric tonnes of seafood annually with India constituting 90% of this. Some percentage of demand also comes from Southeast Asia. Captain Fresh recently completed the acquisition of a 40-year-old, Paris-based, shrimp cooker and distributor, Senecrus, as part of its EU expansion strategy. As per TheKredible, Captain Fresh’s gross revenue surged nearly 4X to Rs 817 crore in the fiscal year ending March 2023 while its losses also shot up 2.6X to Rs 294 crore in the same period.
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Tiger Global-backed Captain Fresh makes third acquisition of this year
VCCircle
·
1y ago
Medial
Indian B2B seafood provider Captain Fresh has announced its third acquisition of the year with the purchase of Polish salmon company Koral. No financial details were disclosed. Captain Fresh aims to become a leading global seafood conglomerate and sees the European market as a key opportunity. The acquisition of Koral will expand its operations in Europe and provide entry into the salmon market. Captain Fresh has previously acquired France-based Senecrus and America's CenSea. The company raised $25m in funding earlier this year and forecasts an annual revenue of $650-700m by the end of the financial year.
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Tiger Global-Backed Captain Fresh enters US market with latest acquisition
VCCircle
·
1y ago
Medial
Tiger Global-backed B2B seafood supplier, Captain Fresh, has announced its entry into the US market through the acquisition of CenSea Inc., a frozen fish and seafood importer and distributor. This acquisition strengthens Captain Fresh's position in the industry and solidifies its position as one of India's largest cross-border B2B marketplaces. The financial details of the deal were not disclosed. This move comes after Captain Fresh recently raised $25 million in funding and marks its first significant step into the US food services segment.
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