A cold chain marketplace startup called Celcius Logistics has finished its Series A funding by raising a total of Rs 100 crore, with the help of IvyCap Ventures as the lead investor.
The company wants to use the funding for technological advancements to address the fragmented cold supply chain and reduce food waste in order to create a more sustainable future, as per reported by BW Disrupt.
Speaking about the journey and plans for the company, Founder and CEO Swarup Bose, said, “We are grateful to our investors for their unwavering support and belief in the vision and mission of Celcius. From our humble beginnings with just 5 employees during the COVID pandemic, we have become a leading player in the cold supply chain industry, with a team of 125 dedicated employees and an operational presence in 350+ cities across the country. 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.”
The company previously raised Rs 35 crore from its existing investors as part of its Series A funding, including Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, said, “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.”
Celcius is India’s first and only asset-light cold chain marketplace with a web and app-based SaaS platform that brings the entire cold chain solution network ONLINE, whether it be matching a consignor with a transporter or changing the infrastructure around Reefer trucking to allocating Cold storage resources throughout India.
They aim to bring together Transporters and Manufacturers of perishable product for sectors like dairy, pharmaceuticals, fresh agricultural produce, frozen produce, and frozen goods.