Celcius Logistics, a startup specializing in cold chain solutions, has secured INR 40 crore ($4.7 million) in a Pre-Series B funding round led by its existing investor IvyCap Ventures.
Mumbai Angels and Caret Capital also participated in the round.
The company plans to utilize the fresh capital to enhance its transportation management system (TMS) and warehouse management system (WMS), thereby reinforcing its cold storage capabilities.
At present, the platform boasts 4,000 vehicles, 107 cold storage facilities, 27 distribution centers, and 200 hyperlocal riders spread across the country.
Moreover, the company’s new business vertical is slated to launch in 17 cities within the coming month, with a portion of the funds earmarked for this expansion.
This development comes a year after the startup raised INR 100 crore in a Series A funding round led by IvyCap Ventures in April 2023.
Continue Exploring: Cold chain provider Celcius Logistics bags INR 100 crore in funding round led by IvyCap Ventures
Swarup Bose, the Founder and chief executive of Celcius Logistics, stated, “With this new funding, our goal is to expand our footprint and address the demand-supply disparity within the cold supply chain. Our transportation and warehousing systems promote transparency and operational efficiency, ensuring adherence to quality standards in the cold chain logistics sector.”
Vikram Gupta, founder and managing partner of IvyCap Ventures, remarked, “The team’s dedication to digitizing the cold chain industry is admirable, and we are confident that the new investment will expedite their growth trajectory, benefiting stakeholders across the nation.”
Established in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celcius Logistics counts Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet among its clientele.
Celcius provides users with a digital platform for accessing end-to-end supply chain solutions. The platform streamlines bookings and consolidates all data into a unified system.
Its goal is to expand its reach to more than 500 cities by the following year, facilitating manufacturers in selling their perishable products.
The startup asserts that it has transported over 125,000 tons of perishable goods across multiple sectors such as dairy, fresh agricultural produce, pharmaceuticals, fruits, seafood, and vaccines. With operations spanning over 350 cities in India, Celcius has expanded into cross-border trade, facilitating the export and import of exotic fruits and seafood.
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