Celcius Bags $30M to Power Cold Chain Logistics Growth

Swarup Bose, Celcius Founder & CEO

Celcius Logistics, a cold chain-focused third-party logistics (3PL) company, has raised Rs 250 crore (around $30 million) in its Series B round co-led by Eurazeo and Omnivore, with participation from existing investor IvyCap Ventures. 

Including this round, Celcius has raised around Rs 390 crore to date. This includes a Rs 40 crore pre-Series B round in May 2024 and earlier seed and Series A investments from investors like Mumbai Angels, VCats, and Endiya Partners.

The proceeds will be used to expand its operations to over 1,000 Indian cities and enhance technology platforms that manage temperature-sensitive logistics for food and pharmaceutical sectors. Celcius has recently expanded into pharma logistics and aims to strengthen this vertical further.

Founded in 2020, Celcius provides integrated cold chain logistics solutions through its proprietary tech stack, including a Transport Management System (TMS), Warehouse Management System (WMS), and Inventory Management System (IMS). Its platform enables easy coordination between manufacturers, transporters, and warehouses.

The Navi Mumbai-headquartered company currently operates in over 600 cities with a fleet of over 4,000 vehicles, 150 cold storage facilities, and 250 hyperlocal riders. 

Its clients include Blinkit, Zepto, Zomato, Domino’s, Keventers, and Baskin Robbins. The company claims to have seen consistent revenue growth of 2.5x year-on-year since 2021. The company has yet to file its annual financial report for FY24 and FY25.

Celcius competes with the likes of Snowman Logistics, Coldrush Logistics, Stellar Value Chain, Tessol and TCI Cold Chain Solutions in the cold chain focused logistics space. 

Source: Entrackr