IvyCap Ventures, an existing investor, led a pre-series B round of funding for Celcius Logistics, a domestic aggregator offering end-to-end cold-chain solutions, raising Rs 40 crore ($4.8 million). Mumbai Angels and Caret Capital are among the other investors.
The present funding round comes after IvyCap Ventures’ Rs 100 crore ($12 million) Series A round in April 2023.
The newly obtained funds will be utilized to enhance its cold storage solution by broadening its reach throughout its transportation management system (TMS) and warehouse management system (WMS). Additionally, it wants to assist producers in selling their perishable goods by reaching more than 500 cities within the next year.
Celcius Logistics, established by Swarup Bose, is a one-stop shop for all cold chain needs, guaranteeing last-mile and hyperlocal deliveries. It links shippers and transporters.
More than four lakh tons of perishable cargo, including fresh agricultural produce, dairy products, pharmaceuticals, fruits, and seafood, have already been transported by the platform. Among its customers are Zomato, Spicejet, Reliance Pharma, Maersk, Domino’s, Vadilal, Baskin Robbins, Prabhat Dairy, Keventers, and Godrej Agrovet.
As of right now, the platform states that it has 200 hyperlocal riders, 4,000 vehicles, 107 cold storage facilities, and 27 distribution centers nationwide.
