Reefer container shipping platform Citrus Freight raised Rs 2.5 Cr in Bridge round

In a bridge funding round, reefer container shipping platform Citrus Freight raised Rs 2.5 crore, increasing its total funding to Rs 5.25 crore thus far. Indigram Labs Foundation, Caret Capital, and other investors participated in the round.

According to a press release from Citrus Freight, the money raised will be utilized to expand the company’s technological stack and bolster the team, including improving its mobile-first platform.

Citrus Freight, which Biplob Barik and Ricky Goyal co-founded in 2016, specializes in perishable logistics, especially in the agricultural industry. In addition to offering end-to-end services like surface transportation and customs clearance, the company provides a digital platform for booking refrigerated containers. In addition to facilitating their export to international markets, it is renowned for its proficiency in handling fresh produce, meat, flowers, and marine products.

Citrus Freight provides services for a variety of commodities, including fruits, vegetables, meat, flowers, and marine products. The company specializes in perishable logistics. Container reservations, customs clearance, surface transportation, and committed customer service are all included in its extensive service offering. To protect perishable goods during transit, the company uses real-time data and temperature monitoring equipment.

The company, which is based in Bengaluru, claims that it makes it easier for Indian produce to be exported to Southeast Asia, the Middle East, and Europe. By providing booking, compliance, temperature tracking, and predictive analytics through an integrated mobile app, the startup tackles export inefficiencies.

Citrus Freight claims that by providing SMEs with the resources and infrastructure they need to grow internationally; it has concentrated on resolving the difficulties their perishable exports present. The company claims to have helped clients minimize spoilage and increase market reach by more than 40% by cutting booking times from 72 hours to just 10 minutes.

Citrus Freight wants to get Rs 45 crore in revenue over the next 12 to 24 months, and they want to move 1,500 containers. Wiz, Cogoport, and Intercont are among the other businesses in the industry that compete with it.