Thursday, September 29, 2022
HomeInsightFunding Alert Celcius raises $4.5 mn in pre-Series A round

[Funding alert] Celcius raises $4.5 mn in pre-Series A round

Celcius
Celcius

Celcius, a SaaS-based cold chain aggregator platform has raised $4.5 million in its Pre-series A funding round from a clutch of investors, including Mumbai Angels and Endurance Capital.

Other investors including EVAN, Supply Chain Labs, VCats, Keiretsu Forum, Huddle, and others also participated in this round.

The startup plans to use the funds to expand to over 500 cities this year. It will also allocate some funds to develop its technology, sales and operations team, and work on development programs to assist small-scale and regional transporters across the country.

The Mumbai-based Celcius was founded in November 2020 by Swarup Bose, Arbind Jain, and Rajneesh Raman, it operates as a cold-chain marketplace startup.

Since its inception, the startup has onboarded 2,500 vehicles, 107 cold storage, and expanded operations to over 150 cities, the company said in a statement.

‘’The newly acquired funds will allow us to stay on the momentum of scaling up our operations across the country. We plan to expand our reach to over 500 cities and to support the country by transporting Covid-19 vaccines and other essential perishables to remote locations”, said, Swarup Bose, founder, and CEO of Celcius.

“We are extremely grateful to the investors for believing in our vision and helping us further our goal of creating a nation-wide cold chain network,” he added.

Recently, the startup has launched the Vahan Vikas Samriddhi programme, through which it aims to financially support regional transport entrepreneurs and encourage them to venture into the cold chain segment.

The startup has partnered with several financial institutions such as Shriram Transport & Finance Company with OEMs – Ashok Leyland and Tata eetc

Last year in August, The startup had raised $500K in a seed funding round from Mumbai Angels Network along with Huddle and Lumis Partners.

About Celcius

Celcius is an asset-light startup with a web and app-based SaaS platform which brings the complete cold chain solution network ONLINE, be it matching a Consignor with transporter or reshaping the infrastructure around Reefer trucking to allocating Cold storage resources pan India.

They aim to bring together Transporters and Manufacturers of perishable products for sectors like Dairy, Pharmaceuticals, Fresh Agro produce, Frozen products etc … on a common platform that allows them to book Reefer Vehicle loads and book Cold storage space anywhere in India with the ability to monitor the complete network right from their desktop or Mobile.

With the launch of their online presence, they have seen tremendous response from the Cold chain industry, and in the first few months they have registered hundreds of transporters, Consignee’s and boast a robust network of more than 1900+ Reefer trucks with load allocations Pan India.

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