Bengaluru-based seafood startup Captain Fresh has raised 100 crore rupees (approximately US$12 million) in a funding round led by Motilal Oswal Wealth Limited, according to regulatory filings.

The company’s board approved the issuance of 1,002 preference shares at an issue price of 9,98,399 rupees (US$11.707,19) per share.

Following this investment, Motilal Oswal Wealth will own a 2.26% stake in Captain Fresh.

Earlier this year, Captain Fresh raised US$7 million from British International Investment.

Founded in 2019 by Utham Gowda, Captain Fresh operates as a farm-to-retail platform specializing in seafood.