Celcius raises Rs 100 cr in Series A funding
The startup aims to use the funds to organise the sector through smart tech adoption by creating a truly unbroken cold chain
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New Delhi: Cold chain marketplace startup Celcius Logistics on Monday said it has raising Rs 100 crore in its Series A funding led by IvyCap Ventures. The startup said it aims to use the funds to organise the sector through smart tech adoption by creating a truly unbroken cold chain.
Celcius offers an integrated online smart platform that provides end-to-end supply chain solutions, including transport, warehousing, last-mile, and hyperlocal delivery services for all stakeholders across the cold chain network.
"From just five employees during the 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 more than 350 cities across the country," said Swarup Bose, Founder and CEO, Celcius.
"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," Bose added.
As part of its Series A funding, the company earlier raised Rs 35 crore, from their existing investors Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others.
Being an asset-light platform, it has a network fleet of over 4,500 reefer vehicles, 107 cold storage facilities, 7 distribution centers, over 100 hyperlocal riders and a team of 125 dedicated employees.
"Given its focus and the expertise of the team, we are confident that Celcius will emerge as the leading brand in this space," said Vikram Gupta, Founder and Managing Partner of IvyCap Ventures. Celcius has clients like Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino's, Keventers and Godrej Agrovet.
