Celcius Logistics raises Rs 40 crore in pre-Series B round led by IvyCap Ventures
Celcius Logistics has Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Dominos, Keventers, and Godrej Agrovet in its customer portfolio
Celcius Logistics has secured Rs 40 crore in a pre-series B funding round led by existing investor IvyCap Ventures, the company said in a press note today, May 14.
Mumbai Angels and Caret Capital are among other prominent investors that participated in this round of fundraising, it informed.
Celcius Logistics, a network platform of cold chain marketplaces, connects shippers and transporters and provides a one-stop solution for all cold chain needs, ensuring last-mile and hyperlocal delivery for all parties. Currently, the platform claims to operate 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country.
“We believe that the fresh investment will further accelerate their growth journey and benefit stakeholders nationwide.” said founder and managing partner of IvCap Ventures, Vikram Gupta.
Celcius Logistics intends to use the new funding to expand its reach across its Transportation Management System (TMS) and Warehouse Management System (WMS), hence improving its cold storage service. It intends to expand its reach to over 500 locations within the next year, assisting manufacturers in selling their perishable items.
“Our technology-driven platform addresses the current challenges including operational inefficiencies faced by the Indian cold-chain ecosystem. We enable manufacturers and transport companies particularly in the food and pharma industries to ensure seamless delivery of perishable items. Real-time monitoring updates and analytics also help in reducing the wastage of such goods. Through the fresh funding, we aim to further penetrate our presence and bridge the demand-supply gap in the cold supply chain. Our transportation and warehousing systems bring in transparency and operational efficiency, ensuring quality compliance in the cold chain logistics industry." said Celcius Logistics Founder & CEO, Swarup Bose.
Celcius Logistics has Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino's, Keventers, and Godrej Agrovet in its customer portfolio
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