Bengaluru-based seafood supply chain startup ‘Captain Fresh’ linking fishermen to global markets generates ₹3,421 Cr revenue in FY25

Captain Fresh started in Bengaluru with a simple goal: make seafood supply faster and reduce waste. 

The company connects fishermen, farms, distributors, and retailers across countries, using technology and smart logistics to make seafood reach tables quickly and safely.

After growing in markets like the US and Europe, Captain Fresh is now getting ready for an international IPO.

Meet the Founder

Utham Gowda grew up in Mysuru with no family link to fishing or seafood.

He studied engineering at NITK Surathkal and later completed a management program in marketing at S.P. Jain Institute of Management and Research in Mumbai. 

Before entering the seafood trade, he worked in strategy and advisory roles at Tata Strategic Management Group, Kriscore Financial Advisors, and O3 Capital. His move into seafood began in 2018 at Nekkanti Sea Foods Limited. 

His early experiences shaped the base on which Captain Fresh was built.

"I spent a lot of time in the global supply chain and India fundamentally is the second largest supplier in the world and this is a supply deficit market. You can't get a better mix than this,” said Chairman &  MD Utham Gowda.

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What Is Captain Fresh?

Captain Fresh began in 2020 as Infifresh Foods Pvt Ltd and became a public company in 2025. 

It runs a modern seafood supply-chain network that links fishermen and farms with retailers, distributors, and wholesalers in 30 countries. The company handles 100+ seafood species and focuses on speed, freshness, and lower waste.

Its business model includes:

• B2B Marketplace (Fishgram) for real-time supply and demand matching

• Full-stack logistics such as cold-chain, transport, and processing

• Global distribution, strengthened through US and EU acquisitions

• Enterprise software (Optimus & FaaS ERP) that supports distributors and factories

“We aspire to transform the seafood industry by delivering high quality, traceable, and reliable seafood to our customers,” says Chairman & MD Utham Gowda. 

Captain Fresh’s major hubs include Miami (US), Poland, France, the Philippines, and key processing clusters in India.

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Captain Fresh Product Suite

Captain Fresh runs three main software systems that support its marketplace, distribution network, and processing units. Each one solves a clear problem in the seafood chain and keeps the supply moving without delays or confusion.

• Fishgram
  It helps fishermen and farms list their catch quickly and match it with buyers. It tracks ponds using satellite data and logs catches with GPS and blockchain. This reduces waste and ensures buyers know exactly where their seafood comes from.
  

• Optimus ERP
  It supports distributors and retailers in managing orders, deliveries, fleets, and stock across locations. It also handles invoicing and payments automatically. Daily reports help prevent losses and keep products fresh.
  

• FaaS ERP
  It tracks production, hygiene checks, batch records, and output in seafood factories. It works for shrimp, salmon, crab, lobster, and more. Simple sensors help maintain quality and reduce mistakes during processing.

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Captain Fresh FY25 Financials

Captain Fresh’s numbers for FY25 show strong growth and better control over costs:

• Revenue: ₹3,421 Cr (up 145% from last year)

• PAT: ₹42.4 Cr profit (vs. ₹229 Cr loss in FY24)

• EBITDA: ₹123.8 Cr with a 2.12% margin

• US revenue: ₹2,416 Cr, making up 71% of total revenue

• Funding raised: ₹1,657 Cr from top global investors

The sharp rise came mainly from US and European markets, better distribution systems, and stronger private-label seafood brands.

"Scale is what wins you the superpower. We continue to grow 50% to 60% every year, and we hope to get around the $1bn mark in terms of revenue in FY26," says Utham. 

How Captain Fresh Reached Profit: The Three-Part Strategy

1. Global Acquisitions That Boosted Revenue

Captain Fresh made more than 10 acquisitions in the US and Europe. Major deals included CenSea, Ocean Garden, Koral, and Senecrus. 

The CenSea deal alone pushed US revenue from ₹362 Cr to ₹2,416 Cr, a jump of more than five times. These deals gave the company a strong hold over US import and distribution.

2. Full Control Over the Supply Chain

The company moved from a light marketplace model to a full supply-chain model:
Fishermen → Fishgram → Processing → Cold-chain → Distribution

This reduced spoilage to 2–5%, improved quality, and helped build private-label brands in shrimp, salmon, and crab.

3. Simple but Effective Tech Across the Chain

Tools like satellite monitoring, GPS traceability, ERPs for factories and distributors, and basic machine learning improved speed, planning, and compliance in global markets.

Captain Fresh is now aiming to become a top global seafood company, showing that an Indian tech-led supply chain business can scale across continents in a short time and make profit. 

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