Cold Chain Startup Celcius Logistics Raises $4.5 Million Funding
Celcius Logistics Solutions, a Mumbai-based cold chain startup, has raised $4.5 million (around Rs 34 crore) in a bridge funding round led by Mumbai Angels. The funding round also saw participation from Supply Chain Labs, VCats, Endurance Capital, Keiretsu Forum, and Huddle, among others.
As per the startup, the freshly raised capital will be used to expand geographically to over 500 cities this year. Celcius Logistics will also allocate some funds towards growing its tech, sales and operations team and working on development programmes to aid small-scale and regional transporters across the country.
Celcius Logistics | Cold Chain Solution Provider
Founded in 2020, Celcius Logistics is a tech-powered Cold Chain network for Reefer trucks and Cold storage facilities. It is an asset-light startup operating with a web and app-based SaaS platform which brings the complete cold chain solution network online.
Speaking about the development, Swarup Bose, Founder & CEO of Celcius, said,
“The newly acquired funds will allow us to stay on the momentum of scaling up our operations across the country. We plan on expanding our reach to over 500 cities and to support the country by transporting COVID-19 vaccines and other essential perishables to remote locations.”
Claiming to be the only cold chain aggregator platform in India’s cold-chain marketplace, Celcius Logistics provides end-to-end cold chain solutions and targets markets such as dairy, pharma, fresh agriculture produce, fruit export, seafood and distribution of COVID-19 vaccines.
As per the startup, it has, so far, onboarded 2,500 vehicles, 107 cold storage and increased operations in over 150 cities. The Mumbai-based cold chain startup has also tied up with financial institutions like Shriram Transport and Finance Company and with original equipment manufacturers (OEM) like Tata Motors and Ashok Leyland.
Recently, Celcius Logistics has launched the ‘Vahan Vikas Samriddhi Programme,’ which aims to financially support regional transport entrepreneurs and encourage them to venture into the cold chain segment.
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