Celcius Logistics, a cold-chain marketplace, secures Rs 40 crore in pre-Series B funding to expand its reach and strengthen its cold storage solutions.
Mumbai, May 14 (PTI) Cold-chain marketplace Celcius Logistics on Tuesday said it has secured Rs 40 crore in a pre-series B funding round.
The latest funding round was led by existing investor IvyCap Ventures along with other marquee investors, including Mumbai Angels and Caret Capital, the company said in a statement.
In April 2023, the company raised Rs 100 crore in a Series A funding round led by IvyCap Ventures.
Celcius Logistics said it aims to deploy the fresh capital to expand its footprint across its Transportation Management System (TMS) and Warehouse Management System (WMS) to further strengthen its cold storage solution.
Through this, the company said, it aims to expand its reach to more than 500 cities in the next one year.
The platform connects shippers and transporters and is a one-stop solution for all cold chain requirements, ensuring last-mile and hyperlocal delivery for all stakeholders.
Currently, it has a fleet of 4,000 vehicles, 107 cold storage facilities, 27 distribution centres, and 200 hyperlocal riders across the country, according to the company.
"Through the fresh funding, we aim to further penetrate our presence and bridge the demand-supply gap in the cold supply chain," Celcius Logistics Founder and CEO Swarup Bose said.
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