ProcSea, offering a B2B market place to facilitate and simplify the seafood trade, has raised raises 6.5 million euros led by Serena capital with contribution from multiple investors. The funds will enable the company to extend its product offering and provide new technologies.
Founded in 2016 by two co-founders Renaud Enjalbert and Florian Dhaisne, ProcSea aims to address challenges faced in the complex and volatile seafood market. ProcSea operates a B2B marketplace for seafood with an emphasis on total transparency, which is achieved through breaking down the barriers between professionals such as restaurants and wholesalers, fishmongers and central buying services.
The marketplace connects players in the fish market in real-time and just one click to the biggest fish markets in Europe. Food professionals have direct access to a wide range of freshly caught or processed seafood products including cephalopods, crustaceans, shellfish and (recently added) deli products. Through its open platform, ProcSea is championing local distribution channels and championing total transparency, with buyers able to choose products based on numerous criteria. Thanks to its commitment-free and free of charge access to the platform, the company has built a dense network of sellers (fisher-men, fish merchants and processors) across Europe – that in France, the United Kingdom (London) and Switzerland.
Fresh capital to accelerate growth and expansion plans
A year after raising 2.5 million euros, ProcSea has now completed a new round of funding, raising €6.5 million from Serena (its lead investor), Cap Horn and previous investors FJ Labs (New York), Alpana Ventures (Lausanne), Samaipata Ventures (Madrid) and Piton Capital (London).
The funding will enable the start-up to continue driving the seafood industry's digital transformation by providing innovative technology and breaking down all the barriers between catering professionals and artisans of the sea. Pertaining to its technology, ProcSea plans to develop new features by integrating artificial intelligence to improve customer experience. AI will be added to numerous services already available on the platform and meeting client needs, such as modules for calls for bids, pre-orders and pre-sales.
Furthermore, ProcSea is hoping to open up its platform to new European markets in 2020 and take on long-distance exports, having carried out promising summer 2019 tests in this area.
(RAN)
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