DSK Legal advised Infifresh Foods Private Limited ("Infifresh") (operating under the brand name 'Captain Fresh') and its Founder, Mr. Utham Gowda in relation to their Series A Round from the investors: (i) Accel India VI (Mauritius) Limited (entity registered in Mauritius; (ii) Matrix Partners India Investments III, LLC (entity registered in Mauritius); (iii) Matrix Partners India III AIF Trust (a trust registered as a Category – II AIF with SEBI); (iv) Ankur Capital Fund-II (a fund managed by a trust registered as AIF with SEBI); (v) Incubate Japan via IF India II Investment Partnership (an entity registered in Japan); and (v) other angel investors ("Series A Investors").
Incorporated in June 2020, Infifresh is engaged in the business of processing, preservation and supply of fresh sea food and various categories of meat and is operating through its e-commerce platform named "Captain Fresh" on B2B basis to cater to online retail players, modern trade, general trade retailers and hotels and restaurants catering.
The major competitors of Captain Fresh include Fresh2Home, Licious, Big Basket, Walmart and Amazon.
Captain Fresh will use the proceeds from the investments expand operations across all the coastal states in India and improve its distribution and logistics network.
This is the fourth successful fund-raising exercise completed by Infifresh since its incorporation in June 2020. The deal value was USD 12 Million and the deal closed on 15th July 2021
DSK Legal team was led by Associate Partner Mr. Jayesh Kothari, Senior Associate Ms. Rajlaxmi Kale and Associate Mr. Kunal Chopra.
Mr. Hemang Parekh acted as the Engagement Partner for this assignment and provided crucial inputs on the transaction.
Accel India VI (Mauritius) Limited was represented by Indus Law.
Matrix Partners India Investments III, LLC and Matrix Partners India III AIF Trust was represented by Rajaram Legal.
Ankur Capital Fund-II was represented by J Sagar & Associates.