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Captain Fresh raises Rs 250 Cr in ongoing pre-IPO round

EntrackrEntrackr · 6m ago
Captain Fresh raises Rs 250 Cr in ongoing pre-IPO round
Medial

Captain Fresh raises Rs 250 Cr in ongoing pre-IPO round Last month, the B2B startup secured Rs 100 crore (approximately $12 million) in funding from Motilal Oswal Wealth Limited. Entrackr exclusively reported the development. Captain Fresh, a seafood supply chain, has raised Rs 250 crore (approximately $30 million) in its ongoing pre-IPO funding round. Prosus Ventures, Accel, and Tiger Global led the round, while the family office of Sriharsha Majety, co-founder of Swiggy; Sid Khanna, chairman of India Equity Partners; Sunjay Kapur, chairman of Sona Comstar; Shivalik Prints, a textile and apparel manufacturer supplying global retailers; and multiple others participated. “We have transformed into a truly global business over the last 24 months, with more than 98% of our demand coming from outside India. The current funding enables us to exceed $1 billion in revenue in the next 12 months, which puts us among the top 25 seafood players in the world. We also have building blocks in place to expand margins, achieving 2X operating profits,” said Utham Gowda, founder & Group CEO of Captain Fresh. Gowda added that the fresh capital will strengthen the balance sheet and serve as a strong foundation for the company’s upcoming IPO. It is preparing to file for its IPO by the end of this year. As per media reports, the company has appointed Axis Capital and BofA as bankers for a proposed IPO worth $350-400 million. Headquartered in Bengaluru, Captain Fresh operates globally with offices in Chicago, West Palm Beach, Paris, Madrid, Amsterdam, Oslo, Gdynia, and Dubai. The company sources multi-species seafood from the Pacific, Atlantic, and Indian Ocean regions while fulfilling the growing demand in high-capita markets like the US, Europe, and the UAE. According to TheKredible, Captain Fresh has raised a total funding of $176 million to date, and Gowda holds a 17.25% stake in it. Captain Fresh’s gross revenue (GMV) increased by 71% to Rs 1,395 crore in FY24 from Rs 817 crore in FY23. The firm managed to reduce its net loss by 22% to Rs 229 crore in the last fiscal year. The company claims that it has been PAT profitable for the last two consecutive quarters and is on track to close FY25 with revenue of $550 million (Rs 4,620 crore).

Jaro Education file draft papers to raise Rs 570 crore via IPO

Money ControlMoney Control · 10m ago
Jaro Education file draft papers to raise Rs 570 crore via IPO
Medial

- Jaro Education, an online higher education and upskilling company, has filed to raise Rs 570 crore through an IPO. - The IPO includes a fresh issuance of equity shares worth Rs 170 crore and an offer-for-sale of shares worth Rs 400 crore by the promoter. - The company plans to allocate funds from the IPO for marketing and brand building, debt repayment, and general corporate purposes. - Jaro Education operates in collaboration with several partner institutions, including IITs, IIMs, and global institutions such as the Swiss School of Management and the Rotman School of Management. - The company demonstrated strong financial performance with a net profit growth of 233% YoY and a revenue increase of 63% for the fiscal year ending March 2024. - Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are appointed as the merchant bankers for the IPO.

Motilal Oswal Mutual Fund increases stake in Paytm to 5.15%

EntrackrEntrackr · 7d ago
Motilal Oswal Mutual Fund increases stake in Paytm to 5.15%
Medial

Motilal Oswal Mutual Fund increases stake in Paytm to 5.15% Motilal Oswal Mutual Fund has increased its stake in One Communications Ltd, the parent company of fintech major Paytm, by acquiring additional shares. Motilal Oswal Mutual Fund acquired 26.31 lakh shares of Paytm through more than 20 schemes including Motilal Oswal Nifty Midcap Fund, Focused Fund, ELSS Tax Saver Fund and Nifty 500 in open market transactions on August 11, 2024, according to a regulatory filing. Motilal Oswal Mutual Fund has raised its stake in Paytm by 0.41% to 5.15%. Following the transaction, it now holds 32,91,399 shares in the company. The filing did not disclose the transaction value. Recently, Ant Group, the financial services arm of Alibaba, divested about a 4% stake in One97 Communications for Rs 2,103 crore. In Q1 FY26, Noida-based fintech firm Paytm reported revenue of Rs 1,918 crore and a net profit of Rs 123 crore, compared to a net loss of Rs 840 crore in the same quarter last fiscal. Paytm is currently trading at 1,234.9 per share, after touching its 52-week high of Rs 1,238 earlier in the day. The company’s total market capitalization stands at Rs 78,461.45 crore ($9.23 billion).

Exclusive: Captain Fresh to raise Rs 1,700 Cr via fresh issue in IPO

EntrackrEntrackr · 9d ago
Exclusive: Captain Fresh to raise Rs 1,700 Cr via fresh issue in IPO
Medial

Exclusive: Captain Fresh to raise Rs 1,700 Cr via fresh issue in IPO B2B seafood supply chain startup Captain Fresh is set to raise Rs 1,700 crore (about $200 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO). The Tiger Global-backed company is reportedly eyeing a total issue size of $350-400 million, including an offer for sale (OFS). According to regulatory filings accessed by Entrackr, the company’s board approved a special resolution earlier this month to issue equity shares worth up to Rs 1,700 crore in a fresh issue. The move comes close on the heels of its transition into a public limited company, which Entrackr had exclusively reported in July. The filings further indicate that Captain Fresh is in the process of submitting its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company’s shares will be listed on both the BSE and NSE following regulatory approvals. Captain Fresh declined to comment on the story. Founded in 2020 by Utham Gowda, Captain Fresh is a multi-species, multi-geography seafood company that orchestrates transactions among various stakeholders in the seafood ecosystem. According to the startup data intelligence platform TheKredible, Captain Fresh has raised over $200 million to date, including a $30 million pre-IPO round in January this year from Prosus, Accel, Tiger Global, and others. Matrix Partners, Accel, Tiger Global, Ankur Capital, and Prosus are some notable investors for Captain Fresh. While the company has yet to disclose its FY25 numbers, Captain Fresh’s gross revenue (GMV) rose 71% to Rs 1,395 crore in FY24 from Rs 817 crore in FY23. The company also reduced its net loss by 22% to Rs 229 crore in the same period.

Captain Fresh raises $25 Mn in ongoing funding round

EntrackrEntrackr · 1y ago
Captain Fresh raises $25 Mn in ongoing funding round
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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