On Monday, Celcius Logistics, a provider of cold chain solutions, announced that it had raised INR 100 crore in a funding round led by IvyCap Ventures. The startup had previously secured INR 35 crore from its existing investors, which included Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), among others.
With the newly raised funds, Celcius Logistics plans to invest in technological innovations to address the fragmented nature of the cold supply chain and minimize wastage in perishable goods. The company intends to work towards building a more sustainable future through these initiatives.
Celcius Founder and CEO Swarup 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.”
Operating in over 350 cities across India, Celcius Logistics has a fleet of over 4,500 reefer vehicles, 107 cold storage facilities, seven distribution centers, and a team of 125 dedicated employees. The company also has over 100 hyperlocal riders who aid in their operations.
Celcius Logistics boasts an impressive clientele that includes Zomato, Zepto, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet. The company claims to have achieved over 20-fold growth last year.
Tej Kapoor, Managing Partner of IvyCap Ventures, will join the board of Celcius Logistics as per the latest announcement by the cold chain solutions provider.
