Captain Fresh的海鲜赌注：营收320亿卢比，利润4亿卢比，IPO规模约4亿美元

做的是什么生意

A B2B seafood supply-chain platform linking fishers and aquaculture farmers with retailers and distributors, generating roughly 98% of revenue from the US, Europe, the Middle East and China (CNBC TV18).

启动资金：More than $200M raised to date, including a $30M pre-IPO round in January 2025 from Prosus Ventures, Accel and Tiger Global (CNBC TV18).

起因

Founded by Utham Gowda, Captain Fresh set out to digitise the seafood trade: it sources from fishermen and aquaculture farmers and sells through a tech-led supply chain to retailers, distributors and restaurants. From early on the platform tilted abroad — by January 2025 Gowda told Inc42 that about 60% of demand came from the US, followed by Europe, with the Middle East under 5% and India at just 2–3%.

经过

Revenue grew from ₹817 Cr in FY23 to ₹1,395 Cr in FY24, up 71%, while the net loss narrowed from ₹294 Cr to ₹229 Cr. In FY25 revenue jumped to ₹3,200 Cr with EBITDA of ₹120 Cr and a net profit of ₹40 Cr — the company's first profitable year, powered by overseas demand and prior acquisitions. Captain Fresh also raised a $30M pre-IPO round in January 2025 from Prosus Ventures, Accel and Tiger Global with angels including Swiggy co-founder Sriharsha Majety and India Equity Partners chairman Sid Khanna.

结果

IPO-bound: in mid-2025 Captain Fresh converted into public company Infifresh Foods Ltd and added independent directors, and in August 2025 it pre-filed its DRHP confidentially with SEBI for an issue of about $400M — a ₹1,700 Cr fresh issue plus an offer-for-sale component. Proceeds from the fresh issue are earmarked to repay debt and to fund further acquisitions in the US and Europe, where Captain Fresh has already bought seafood brands (CNBC TV18, Inc42).

可借鉴之处

碎片化的生鲜市场可以用软件重塑，但Captain Fresh的利润来自于向海鲜购买大户销售——全球赌注而非印度市场使其模式奏效。