April 10, 2023
Celcius completes Series A with ₹100 cr
The cold chain marketplace startup Celcius Logistics has completed its Series A funding by raising the total amount of ₹100 cr, led by IvyCap Ventures.
As part of its Series A, the company earlier raised ₹35 cr, from their existing investors – Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others.
Vikram Gupta of IvyCap: “Celcius is revolutionizing cold supply chain. Given its focus and the expertise of the team, we are confident that Celcius will emerge as the leading brand in this space.”
Tej Kapoor, managing partner, IvyCap Ventures will be joining the board of Celcius on behalf of IvyCap Ventures.
Swarup Bose, founder and CEO, Celcius: “Having raised more funds, we aim to expand ops. We are also working towards introducing smart tech innovations to address challenges in the pharma sector.”
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Being asset-light, it has a fleet of over 4500+ reefer vehicles, 107 cold storage facilities, 7 distribution centres, 100+ hyperlocal riders and 125 dedicated employees in 350+ cities across India.
The company aims to utilize the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce the wastage of perishables.
Celcius’ online platform provides end-to-end supply chain solutions, including transport, warehousing, last-mile, and hyperlocal delivery services for all stakeholders across the cold chain network.
With a growth of 20X in the past year, Celcius has a list of clientele, including Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers and Godrej Agrovet.
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