Captain Fresh to file IPO papers by mid-August, launch $50–75 million pre-IPO round
Mumbai: Captain Fresh, which is a seafood market between enterprises (B2B), is expected to file the draft red herring to the first public offering in the next three weeks according to two people who know the subject.
“The company is expected to file its IPO papers to mid-August and then start the pre-IPO tour.” He said.
The planned filing is part of the company’s difficulty in accessing public markets in the current financial financial offering of $ 400 million in public offering. At the beginning of this month, he became a public institution and appointed Axis Capital and Bank of America to manage the issue.
According to Tracxn data among the seed investors in Captain Fresh, Ankur Capital includes ADB Ventures, Z47, Inkubbe Fund India and Hoskoppal Ventures. Captain Fresh and investors did not respond immediately MintRequests for comments.
In December, Mint The company reported that some late stage investors, including Accel and Prosus, have made negotiations to raise a round of 50-100 million dollars, which is expected to make an additional capital stage.
Captain Fresh Last, Evolvence India and British International Investment has collected about 48 million dollars in a round and the company valued a slightly over $ 500 million. Other investors include Motilal Oswal Varlık, Tiger Global Management and Innoven Capital.
Founded in 2019 by Banker-Turned-Entrepreneer Utham Gowda, Bengaluru-based company operates a farm-Regill seafood supply chain aimed at connecting small-scale fishermen and coastal farmers with the demand for retail in India.
It offers both a digital trade platform and a physical fulfillment network for retailers. The company also exists in international markets, including the USA, Spain and West Asia. Waycool compete with initiatives such as Apnaklub and Farmart.
In the last two years, Captain Fresh focused on narrowing losses while scaling operations. Business income increased La1,395 Crore from FY24 La817 Crore in FY23. The losses are narrowed La229 FY24 LaAccording to an Intrackr report, 294 Crore in the previous year. The company has not yet presented its controlled results of 25 financial years.
