Cold-chain marketplace Celcius raises ₹40 crore
This follows the Series A funding round of ₹100 crore in April 2023 led by IvyCap Ventures.
Celcius Logistics has secured ₹40 crore in a pre-series B funding round, led by existing investor IvyCap Ventures.
Other marquee investors include Mumbai Angels and Caret Capital. The platform connects shippers and transporters and is a one-stop solution for all cold chain requirements, ensuring last mile and hyperlocal delivery for all stakeholders. This follows the Series A funding round of ₹100 crore in April 2023 led by IvyCap Ventures.
Celcius Logistics aims to deploy the fresh capital to expand its footprint across its Transportation Management System (TMS) and Warehouse Management System (WMS), further strengthening its cold storage solution. Through this, it aims to expand its reach in over 500 cities in the next one year and help manufacturers sell their perishable products.
Currently, the platform has 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country.
Celcius Logistics founder & CEO, Swarup Bose said, “Our technology-driven platform addresses the current challenges including operational inefficiencies faced by the Indian cold-chain ecosystem. We enable manufacturers and transport companies particularly in the food and pharma industries to ensure seamless delivery of perishable items. The real-time monitoring updates and analytics also help in reducing wastage of such goods. Through the fresh funding, we aim to further penetrate our presence and bridge the demand-supply gap in the cold supply chain. Our transportation and warehousing systems bring in transparency and operational efficiency, ensuring quality compliance in the cold chain logistics industry.”
Vikram Gupta, founder and Managing Partner of IvyCap Ventures said, “We are proud to continue our support for Celcius Logistics and see them build an unbroken and robust cold supply chain. The passion and commitment of the team to digitize the cold chain industry is commendable and we believe that the fresh investment will further accelerate their growth journey and benefit stakeholders nationwide.”
The platform has already transported over four lakh tons of perishable cargo for dairy, pharma, fruits, seafood as well as fresh agricultural produce. Its clients include Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet among others.
