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Celcius Logistics, a key player in the cold-chain logistics sector, has raised Rs 40 crore or $4.8 million in a pre-Series B funding round led by existing investor IvyCap Ventures.
The round also saw participation from Mumbai Angels and Caret Capital.
Prior to this round, the startup raised Rs 100 crore ($12 million) in a Series A funding round in April 2023 led by IvyCap Ventures.
What is the purpose of fundraising?
The fresh capital injection is earmarked for a significant expansion of Celcius Logistics' operational capabilities. This includes enhancing their Transportation Management System (TMS) and Warehouse Management System (WMS), both critical components in strengthening their cold storage solutions.
The startup plans to expand its reach to over 500 cities within the next year, aiming to support manufacturers in selling perishable products more effectively.
What does Celcius Logistics do?
Celcius Logistics serves as a domestic aggregator that provides comprehensive cold-chain solutions
Founded by Swarup Bose, the startup facilitates connections between shippers and transporters, offering a one-stop solution for all cold-chain requirements. This includes last-mile and hyperlocal deliveries, crucial for managing perishable products across various industries, particularly food and pharmaceuticals.
Celcius Logistics network
Presently, Celcius Logistics boasts a robust infrastructure that is crucial for its operations. The startup claims that it operates 4,000 vehicles and maintains 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders.
This extensive network allows Celcius to handle a substantial volume of perishable cargo, which has already exceeded four lakh tons, serving a diverse range of clients.
Celcius Logistics clients
Celcius Logistics claims to have notable clients, including major names like Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet, among others.