Captain Fresh is a B2B seafood startup that acquired Poland’s food and beverage manufacturing  company, Koral. The financial terms and amount of acquisition are still unknown. This marks the third overseas acquisition for the company. The startup plans to enter the European market and expand its  services through this acquisition. According to Entrackr, Captain Fresh has already signed the agreement with Abris Captain Partners and Boguslaw Kowalski. 

The Bengaluru startup previously acquired the American importer of seafood CenSea and French shrimp distributor Senecrus. Koral operates in the fish processing market and manufactures smoked  salmon products. The company sells these products in domestic and international markets. This Poland startup has around 26 production lines that can process around 120 tons of fish per day. Captain Fresh  

was founded by Utham Gowda in 2020. The firm offers an online B2B platform that provides and trade  seafood including Salmon, Shrimp, Crab, and lobsters. This acquisition will be profitable for both companies, enabling them to integrate their marketing strategies and bring variety to the customers. 

Captain Fresh procures, processes, and distributes seafood products to retailers through its online  platform. The company also provides its mobile application on both iOS and Android platforms. The  startup has known investors working with it such as Tiger Global Management, Matrix Partners India,  Prosus Ventures, Accel, SBI Holdings, Incubate Fund II, and more. The company has secured around  160 million USD to date since its inception. The CEO of Captain Fresh, Utham Gowda mentioned that  the company acquiring Koral is a strategic move for their mission to become a tech-powered multi origin, multi-species global seafood platform. 

The European market is considered as the most exciting value-added product opportunities seafood  market. The Koral arguments will enable the startup to expand its offerings in the European market. The startup was previously planning to secure $7 million from British International Investments in 2022  to join the cap table with a 1.45 percent stake. This acquisition is part of Captain Fresh’s aim to  strengthen its global market network. The company expects its annual revenue run rate to be around  650 million 700 million USD for this financial year. The development came just after the Salmon sector  saw increased interest from the investors. The salmon market is estimated to have a size of 33.5 billion  USD for FY24. 

Conclusion: 

Captain Fresh is a seafood startup based in Bengaluru. The company specializes in manufacturing,  processing, and distributing seafood products to retailers. The startup signed an agreement to acquire  the Poland-based food and beverages manufacturing startup, Koral. The acquisition is beneficial for  both companies as this will allow them to scale up and merge their marketing and business networks to offer more products. Koral has around 26 production lines with the ability to process 120 tons of  fish each day. The B2B online platform offered by Captain Fresh allows users to trade and process 

seafood. The Bengaluru-based startup is backed by major investors including Tiger Global  Management and Accel.