A Europe-based VC firm is also participating in the round, while existing investor IvyCap Ventures is also likely to be a part of it
Celcius will use the fresh capital to enhance its transportation management system and warehouse management system
Founded in 2020, Celcius offers a digital platform to users to avail end-to-end supply chain solutions
Cold-chain marketplace Celcius Logistics is in advanced discussions with investors to raise around INR 125 Cr (about $14.5 Mn) in its Series B funding round.
The round will see participation from agritech focus venture fund Omnivore, sources told Inc42. Besides, a Europe-based VC firm is participating in the round. Existing investor IvyCap Ventures is also likely to be a part of the funding round.
The funding round is likely to be announced in a couple of weeks. Celcius declined to comment on Inc42’s queries on the development.
Founded in 2020 by Swarup Bose, Rajneesh Raman, and Arbind Jain, Celcius offers a digital platform to users to avail end-to-end supply chain solutions. The platform centralises bookings and helps collate all the data in a single system.
It will use the fresh capital to enhance its transportation management system (TMS) and warehouse management system (WMS), the sources quoted above said.
Celcius last raised INR 40 Cr (about $4.7 Mn) in its pre-Series B funding round led by existing investor IvyCap Ventures. The round also saw participation from Mumbai Angels and Caret Capital, and Indonesia-based Sinaramas.
It counts the likes of Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Domino’s, Keventers, and Godrej Agrovet among its clients. Currently, the startup has 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country.
Celcius claims to have transported more than 1.25 Lakh tonnes of perishable goods for various sectors, including dairy, fresh agricultural produce, pharmaceuticals, fruits, seafood, and vaccines. It currently operates across more than 350 cities in the country and plans to expand its presence to more than 500 cities by the end of 2025.
Celcius has also ventured into cross-border trade, facilitating the export and import of exotic fruits and seafood.
Operating across more than 350 cities in India, Celcius has also ventured into cross-border trade, facilitating the export and import of exotic fruits and seafood.
The startup intends to expand its presence to more than 500 cities by the end of 2025.
