Celcius Logistics raises INR 100 crore in Series A funding led by IvyCap Ventures to revolutionize cold supply chain
- ByStartupStory | April 10, 2023
Celcius Logistics, a cold chain marketplace, has raised INR 100 crore in a Series A funding round led by IvyCap Ventures, with participation from existing investors. The company plans to use the fresh capital to invest in technology innovations that address the fragmented cold supply chain, reduce wastage in perishables, and focus on sustainability. Tej Kapoor, Managing Partner at IvyCap Ventures, will join Celcius’ board as a representative of the investor.
Celcius Logistics offers an integrated online platform that provides end-to-end supply chain solutions for all stakeholders across the cold chain network. Its services include booking and monitoring transport, warehousing, last-mile, and hyperlocal delivery services. The company claims to have transported over 100 tonnes of perishables for clients including Maersk, Jubilant Foods, and Zomato.
“We are glad to have partnered with Celcius Logistics, which is revolutionizing the cold supply chain sector with its innovative approach,” said Vikram Gupta, Founder and Managing Partner of IvyCap Ventures. “Given its focus and the expertise of the team, we are confident that Celcius will emerge as the leading brand in this space.”
Founder and CEO Swarup Bose stated that Celcius Logistics has grown from five employees during the pandemic to a leading player in the cold supply chain industry, with a team of 125 dedicated employees and an operational presence in 350+ cities across India. The company plans to introduce smart tech innovations to address inefficiencies in the pharma sector and build an unbroken cold supply chain to ensure food security.
According to the India Cold Chain Market Report 2023, between 2.7% and 15.9% of perishables are wasted each year due to a lack of cold storage. Celcius Logistics aims to reduce wastage and improve efficiency in the cold chain sector through its platform.
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