Celcius Logistics, a leading cold-chain marketplace, announced on Tuesday that it has secured Rs 40 crore in a pre-Series B funding round. The funding was led by existing investor IvyCap Ventures, along with participation from other prominent investors such as Mumbai Angels and Caret Capital.
This latest funding follows a successful Series A round in April 2023, where the company raised Rs 100 crore with IvyCap Ventures as the lead investor. Celcius Logistics intends to utilize the fresh capital to expand its footprint in the Transportation Management System (TMS) and Warehouse Management System (WMS) to enhance its cold storage solutions. The company aims to extend its services to over 500 cities within the next year.
Celcius Logistics operates as a comprehensive platform connecting shippers and transporters, providing end-to-end cold chain solutions, including last-mile and hyperlocal delivery services. Currently, it boasts a fleet of 4,000 vehicles, 107 cold storage facilities, 27 distribution centers, and 200 hyperlocal riders nationwide.
Founder and CEO Swarup Bose expressed the company’s commitment to leveraging the funding to further bolster its presence and address the demand-supply gap within the cold supply chain. Celcius Logistics aims to reinforce its position as a key player in the cold-chain industry, facilitating seamless and efficient logistics solutions for its stakeholders.
