Celcius, an India-based cold chain aggregator platform in India’s cold-chain marketplace, raised $4.5 million (around Rs 34 crore) in a bridge funding round led by Mumbai Angels.  

Other investors who took part in this funding round include Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, and Huddle, among others. 

Celcius plans to deploy the fresh capital to expand geographically to over 500 cities this year.

It will also allocate some funds towards growing its tech, sales, and operations team and working on development programs to aid small-scale and regional transporters across the country. 

Company: Celcius Logistics Solutions Pvt Ltd.

Raised: $4.5M

Round: Bridge Funding

Funding Month: April 2022

Lead Investors: Mumbai Angels

Additional Investors: Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, and Huddle

Company Website: https://www.celcius.in/

Software Category: Cold Chain Solutions

About the Company: Founded in 2020, Celcius is a cold chain aggregator platform in India’s cold-chain marketplace. It provides end-to-end cold chain solutions and targets markets such as dairy, pharma, fresh agriculture produce, fruit export, seafood, and distribution of COVID-19 vaccines. Its software-as-a-service (SaaS) based platform enables various cold chain entities to collaborate. Celcius onboarded 2,500 vehicles, 107 Cold storage, and increased operations in over 150 cities. It has also tied up with financial institutions like Shriram Transport and Finance Company and with original equipment manufacturers (OEM) like Ashok Leyland and Tata Motors.

Source: https://www.vccircle.com/ask-investment-managers-launches-200-mn-fund-category-iii-aif