logistics

Celcius Logistics Raises Rs 40 Crore in Pre-Series B Funding Round

• ByStartupStory     |    May 15, 2024

Celcius Logistics, a leading cold-chain marketplace, announced today that it has secured Rs 40 crore in a pre-series B funding round. The investment was led by IvyCap Ventures, a prominent investor in the Indian startup ecosystem, along with contributions from Mumbai Angels and Caret Capital, among others.

This recent capital infusion follows a successful Series A funding round in April 2023, where the company raised Rs 100 crore, also led by IvyCap Ventures.

Celcius Logistics plans to utilize this fresh funding to expand its footprint significantly, focusing on enhancing its Transportation Management System (TMS) and Warehouse Management System (WMS). By strengthening its cold storage capabilities, the company aims to extend its reach to more than 500 cities within the next year.

The platform developed by Celcius Logistics acts as a pivotal link between shippers and transporters, providing comprehensive cold chain solutions that include last-mile and hyperlocal delivery services. The company currently boasts an impressive infrastructure, with a fleet of 4,000 vehicles, 107 cold storage facilities, 27 distribution centers, and 200 hyperlocal riders spread across the country.

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