Celcius Logistics, a domestic aggregator providing end-to-end cold-chain solutions, Tuesday said it has raised Rs 40 crore ($4.8 million) in its pre-Series B funding round led by existing investor IvyCap Ventures.
Other investors participating in the funding round included â Mumbai Angels and Caret Capital.
The latest funding follows the Series A funding round of Rs 100 crore in April 2023 led by IvyCap Ventures.
Celcius Logistics, which connects shippers and transporters and offers solutions for cold chain requirements, plans to use the capital to expand its footprint across its transportation management system and warehouse management system.
It also plans to use the funds to strengthen its cold storage solution. Through this, it aims to expand its reach in over 500 cities in the next year and help manufacturers sell their perishable products. Currently, the platform has 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country.
“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,” said Swarup Bose, founder and chief executive officer, Celcius Logistics.
Celcius claims that the platform has already transported over 400,000 tons of perishable cargo for dairy, pharma, fruits, seafood as well as fresh agricultural produce. Its clients include Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet among others.
