Celcius Closes INR 100 Cr Funding To Fix Cold Chain Logistics

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Cold chain logistics startup Celcius has raised INR 100 crore ($12.19 million) in a Series A funding round led by IvyCap Ventures. The startup aims to use the funds to develop technology solutions to solve the fragmented nature of cold supply chain infrastructure and reduce perishables wastage. Celcius offers a digital platform that centralizes bookings and helps collate data in a single system for end-to-end supply chain solutions. The startup has transported more than 125,000 tons of perishable cargo for clients including Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet across 350+ cities in India. Celcius was founded in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain.

The Indian cold chain logistics market was valued at $9.23 billion in 2022 and is expected to grow at a CAGR of more than 14% during the forecast period of 2020-2025, according to a report by Research and Markets. Bose’s comments highlight Celcius’ plans to utilize the newly raised funds to enhance its operations and create a robust cold supply chain infrastructure. The startup aims to tackle the issue of food security in India by reducing wastage of perishables through the introduction of smart tech innovations. Furthermore, Celcius plans to address challenges in the pharma sector, indicating the company’s diversification into different domains. The focus on sustainable solutions also aligns with the larger trend of startups prioritizing environmental and social impact in their business strategies.