Third-party logistics (3PL) firm Celcius Logistics, which specializes in cold chains, has secured Rs. 250 crore, or about $30 million, in its Series B round, which was co-led by Eurazeo and Omnivore and included current investor IvyCap Ventures.
To date, Celcius has raised over Rs. 390 crore, including this round. This includes previous seed and Series A investments from investors such as Mumbai Angels, VCats, and Endiya Partners, as well as a Rs. 40 crore pre-Series B deal in May 2024.
The money raised will be utilized to improve technological platforms that handle temperature-sensitive logistics for the food and pharmaceutical industries as well as to extend operations to more than 1,000 Indian cities. With its new foray into pharmaceutical logistics, Celcius hopes to further solidify this industry.
Using a proprietary tech stack that includes an Inventory Management System (IMS), Warehouse Management System (WMS), and Transport Management System (TMS), Celcius, which was founded in 2020, offers complete cold chain logistics solutions. Manufacturers, carriers, and warehouses can easily coordinate thanks to its platform.
Currently, the Navi Mumbai-based company has 250 hyperlocal riders, 150 cold storage facilities, and a fleet of over 4,000 cars operating in over 600 towns.
Blinkit, Zepto, Zomato, Domino's, Keventers, and Baskin Robbins are some of its customers. Since 2021, the corporation reports steady revenue growth of 2.5 times year. For FY24 and FY25, the company has not yet submitted its annual financial report.
In the cold chain-focused logistics market, Celcius faces competition from companies such as Snowman Logistics, Coldrush Logistics, Stellar Value Chain, Tessol, and TCI Cold Chain Solutions.
