Cold chain solutions provider Celcius Logistics has raised Rs 100 crore in a funding round led by IvyCap Ventures, the company said on Monday.
The startup had earlier raised Rs 35 crore from existing investors Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others. The company aims to utilize the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce the wastage in perishables thereby building towards a sustainable future.
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“Having raised more funds, we aim to further expand our operations and build a seamless, and truly unbroken cold supply chain, ensuring food security for all. We are also working towards introducing smart tech innovations to address challenges in the pharma sector,” Celcius founder and CEO Swarup Bose said. Celcius has a fleet of over 4,500 reefer vehicles, 107 cold storage facilities, seven distribution centres, over 100 hyperlocal riders, and a team of 125 dedicated employees, and is operational in more than 350 cities across the country.
The company claims to have recorded over 20-fold growth last year. Its clientele, includes Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet. IvyCap Ventures, Managing Partner, Tej Kapoor will be joining the board of Celcius.