The cold-chain solutions company Celsius Logistics recently secured INR 125 crore in its Series B funding round. The agritech venture fund Omnivore was the primary investor in this investment round, with support from an unidentified European venture capital firm. Although formal confirmations are still pending, it is anticipated that current stakeholder IvyCap Ventures will also contribute.
Strategic Investment for Operational Growth
Celsius intends to make investments in upgrading its technology, particularly its Warehouse Management System (WMS) and Transportation Management System (TMS). Improving the efficiency of handling perishable items is the company’s objective. By the end of 2025, Celsius hopes to have expanded from its present number of over 350 cities to over 500. Additionally, they want to increase their cross-border trading activity by concentrating on exotic seafood and fruits.
Previous Fundraising of Celsius Logistics
Celsius has been actively raising funds. In May 2024, they secured INR 40 crore in a pre-Series B round from IvyCap Ventures, Mumbai Angels, and Caret Capital. Earlier, in April 2023, they raised INR 100 crore in their Series A round, led by IvyCap Ventures. These funds have strengthened their cold storage facilities and expanded their presence across India.
Celsius Logistics
Founded back in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celsius provides a digital platform that’s like a matchmaker for shippers and transporters. It streamlines everything from bookings to operational data, making cold-chain management less of a headache. The company has moved over 4 lakh tonnes of perishables – dairy, fresh produce, pharmaceuticals, seafood, and vaccines.
The company’s clientele includes leading names such as Zepto, Zomato, Maersk, and Prabhat Dairy. Their logistics network includes 4,000 vehicles, 107 cold storage units, 27 distribution centers, and 200 hyperlocal riders.
New Faces in Leadership to Drive Expansion
To drive growth, Celsius has hired experienced leaders. Ganesh Satam, with 20 years of experience in supply chain management, is now the Chief Business Officer for Life Sciences & Healthcare. Yugal K Agrawal, who has 30 years of expertise, has been appointed as the CBO for Pan-India operations. Both have worked with major companies like DHL and are expected to guide Celsius towards operational excellence.
Celsius is concentrating on growth and finding solutions to actual issues in the cold supply chain, especially in the food and pharmaceutical industries. In order to improve last-mile and hyperlocal delivery and guarantee that perishable goods reach customers in optimal condition, the company is updating its system.
Conclusion
With this latest infusion of INR 125 crore, Celsius Logistics is gearing up to redefine what’s possible in cold-chain logistics. As the company reaches new heights technologically and geographically, it is ready to meet the escalating demands in India and internationally. This move marks a pivotal point for Celsius as it continues to innovate and expand.
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