CelciusRaises INR 100 Crore In Series A Funding Led By IvyCap Ventures The company aims to utilize the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce the wastage in perishables thereby building towards a sustainable future
By Teena Jose •
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Celcius Logistics, India's fastest-growing cold chain marketplace startup, has completed its Series A funding by raising the total amount of INR 100 crore, led by IvyCap Ventures. As part of its Series A funding, the company earlier raised INR 35 crore from their existing investors – Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others. The company aims to utilize the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce the wastage in perishables thereby building towards a sustainable future.
"We are grateful to our investors for their unwavering support and belief in the vision and mission of Celcius. We have recently launched smart solutions catering to the specific needs of last-mile deliveries and hyperlocal cold-chain transportation. Having raised more funds, we aim to further expand our operations and build a seamless, and truly unbroken cold supply chain, ensuring food security for all. We are also working towards introducing smart tech innovations to address challenges in the pharma sector. Our goal is to work towards a sustainable future, by taking steps to reduce wastage of perishables through innovative tech solutions and creating a meaningful impact on the ecosystem," said Swarup Bose, founder and CEO, Celcius.
Over the past 2.5 years, Celcius has recorded enviable growth. Being an asset-light platform, it boasts of a network fleet of over 4500 reefer vehicles, 107 cold storage facilities, 7 distribution centers, more than 100 hyperlocal riders, and a team of 125 dedicated employees, and is operational in 350+ cities across the country. This marks Celcius Logistics as the first startup in the cold supply chain sector to achieve such rapid growth and establish a niche in the cold chain industry within a short period of time, claimed by the company in a statement.
"We are glad to have partnered with Celcius Logistics, which is revolutionizing the cold supply chain sector, with its innovative approach. Given its focus and the expertise of the team, we are confident that Celcius will emerge as the leading brand in this space. Also, Tej Kapoor, managing partner, IvyCap Ventures will be joining the board of Celcius on behalf of IvyCap Ventures.
Celcius offers an integrated online smart platform that provides end-to-end supply chain solutions, including transport, warehousing, last-mile, and hyperlocal delivery services for all stakeholders across the cold chain network.
