Celcius Closes INR 100 Cr Funding To Fix Cold Chain Logistics In India

SUMMARY

The startup had earlier raised INR 35 Cr as part of this round

Celcius offers a digital platform to the users to avail end-to-end supply chain solutions

The startup plans to use the funds toward tech innovations

Cold chain logistics startup Celcius has raised INR 100 Cr ($12.19 Mn) in a Series A funding led by IvyCap Ventures.

In April 2022, the startup had raised INR 35 Cr ($4.5 Mn) as a part of the same funding round from Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others.

Celcius aims to use the funds toward tech innovations to solve the fragmented nature of the cold supply chain infrastructure. Further, it aims at reducing perishables wastage to contribute towards a sustainable future.

Celcius offers a digital platform to the users to avail end-to-end supply chain solutions. The platform centralises bookings and helps collate all the data in a single system.

Founded in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celcius counts Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet, among others as its clients.

The startup claims to have transported more than 125,000 tons of perishable cargo for sectors such as dairy, fresh agricultural produce, pharma, fruits, seafood, and vaccines across 350+ cities in India. In addition to domestic movements, Celsius also has ventured across border export and import of exotic fruits and seafood.

Commenting on the funding round, Bose said, “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.”

According to a report by Research and Markets, the Indian cold chain logistics market was valued at $9.23 Bn in 2022 and is expected to grow at a CAGR of more than 14% during the forecast period of 2020-2025.

Other startups in the cold chain logistics include Tessol, and Coldman Logistics.