The startup plans to deploy fresh capital to enhance its transportation management and warehouse management system
Sinarmas emerged as the sole external investor participating in the round
Founded in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celcius offers a digital platform for users to avail end-to-end supply chain solutions
Cold chain startup Celcius Logistics has raised INR 40 Cr ($4.7 Mn) in a Pre-Series B funding round led by its existing investor IvyCap Ventures.
The round also saw participation from Mumbai Angels and Caret Capital.
Sinarmas emerged as the sole external investor participating in the round, sources told Inc42.
Celcius Logistics plans to deploy fresh capital to enhance its transportation management system (TMS) and warehouse management system (WMS), thereby reinforcing its cold storage capabilities.
Currently, the platform has 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country.
Additionally, the company’s new business vertical will be introduced in 17 cities within the upcoming month, with a portion of the funds allocated for this expansion.
This funding comes a year after, the startup raised INR 100 Cr in a Series A funding round led by IvyCap Ventures in April 2023.
Celcius Logistics’ founder and chief executive Swarup Bose said, “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.”
Vikram Gupta, founder and managing partner of IvyCap Ventures said, “The passion and commitment of the team to digitise the cold chain industry is commendable and we believe that the fresh investment will further accelerate their growth journey and benefit stakeholders nationwide.”
Founded in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celcius Logistics boasts a client roster including Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet.
Celcius offers a digital platform to the users to avail end-to-end supply chain solutions. The platform centralises bookings and helps collate all the data in a single system.
It aims to extend its presence to over 500 cities by next year and help manufacturers sell their perishable products.
The startup claims to have transported more than 125,000 tons of perishable goods for various sectors, including dairy, fresh agricultural produce, pharmaceuticals, fruits, seafood, and vaccines. Operating across more than 350 cities in India, Celcius has also ventured into cross-border trade, facilitating the export and import of exotic fruits and seafood.
