Celcius raises INR 100 Cr to boost cold chain sector

Celcius Logistics has successfully completed its Series A funding by raising the total amount of INR 100 Cr, led by IvyCap Ventures. As part of its Series A funding, the company earlier raised INR 35 Cr, from their existing investors – Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others. This marks Celcius Logistics as the first start-up in the cold supply chain sector to achieve such rapid growth and establish a niche in the cold chain industry within a short period of time. The company aims to utilize the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce the wastage in perishables thereby building towards a sustainable future. Speaking about the journey and plans for the company, Founder and CEO, Mr. 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. We have recently launched smart solutions catering to the specific needs of last-mile deliveries and hyperlocal cold-chain transportation. 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.”