Celcius Logistics secures Rs 40 Cr in pre-Series B funding led by existing investor IvyCap

Supply chain solutions provider Celcius Logistics has raised Rs 40 crore ($4.7 million) in a pre-Series B funding round led by existing investor IvyCap Ventures, with participation from ⁠Mumbai Angels and Caret Capital.

Last year, in April, Celcius had raised Rs 100 crore in its Series A funding round led by IvyCap Ventures.

Celcius Logistics plans to use the fresh funds to grow its transportation and warehouse management systems, as well as enhance its cold storage services. The goal is to reach over 500 cities within a year, facilitating the sale of perishable goods for manufacturers.

Currently, the platform has 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country, Celcius said in a release.

"We are proud to continue our support for Celcius Logistics and see them build an unbroken and robust cold supply chain. The passion and commitment of the team to digitize the cold chain industry is commendable and we believe that the fresh investment will further accelerate their growth journey and benefit stakeholders nationwide," Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, said.

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The platform manages the transportation of perishable cargo for dairy, pharma, fruits, seafood, as well as fresh agricultural produce. Its clients include Zomato, Spicejet, Reliance Pharma, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet, among others.

"We enable manufacturers and transport companies particularly in the food and pharma industries to ensure seamless delivery of perishable items. The real-time monitoring updates and analytics also help in reducing wastage of such goods," Celcius Logistics Founder and CEO Swarup Bose added in the statement.

(The copy was updated with the correct funding round.)