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Mumbai-based cold chain marketplace startup, Celcius has raised an undisclosed amount in series seed round funding.
The round was led by Eaglewings Ventures Alliance Network (EVAN), in participation with MaGEHold, Keiretsu Forum, and other investors.
“The seed funding will be utilized to further scale up the partner base, enhance the tech platform, and expand geographically,” Celcius said.
Speaking on the fundraise, Swarup Bose, Founder & CEO, Celcius said, “We are ecstatic to announce our seed funding round and are thankful to all our investors. In a short span of six months, we have transported over 2800 tonnes of perishable cargo for sectors like Dairy, Pharma, Fruits, and Seafood across 85 cities in India and have also ventured outside the country. We aim to build a technology-driven solution to the problems of the conventional cold-chain network in India.”
Commenting on the investment, Atul Javeri, CEO, EVAN said, “As our first foray into the cold-chain logistics segment, we are extremely delighted to support the Celcius mission of seamless and efficient deliveries of temperature-sensitive products. From incubating the company to becoming investors on board this year, we want to stay committed to the team and look forward to actively supporting their growth.”
“India lacks the Cold chain infrastructure and now with the backdrop of COVID, Celcius is at the right place at the right time. From facilitating vaccine delivery, curbing food wastage, empowering regional transporters to build the last-mile delivery network, Celcius is ensuring an impactful presence in the ecosystem. With an experienced and mature team, there is a tremendous potential for them to grow.”, added Poojit Jain, Angel Investor, EVAN.
Talking about the funding in Celcius, Bowie Lau, MD, MaGEHold Pte. Ltd, Singapore added, “Cold storage supply chain is a critical yet challenging part of a country’s growth infrastructure. It ensures a longer shelf life for perishable and temperature-sensitive goods and allows the distribution of such products even to the hinterlands. The team at Celcius has uniquely solved this challenge by establishing a pioneering Cold-Chain Online Marketplace for a complete cold storage supply chain in India. Also, within a short period, we were able to establish a good working relationship with the founder and are excited to become part of the Celcius story. We look forward to actively supporting their growth and expansion plans in India and beyond.”