The startup Celcius was founded by Swarup Bose, Rajneesh Raman and Arbind Jain in November 2020, the company said it has transported over 2,800 tonnes of perishable cargo, covering more than 85 cities across the country.
On Tuesday a cold chain startup Celcius raised its undisclosed seed funding and it will use it to expand its presence, increase its partner base and improve its tech platform.
Celcius said in a release, Eaglewings Ventures Alliance Network (EVAN), MaGEHold, Keiretsu Forum, and other investors participated in this round of seed funding.
Bose, Founder and CEO, Celcius said “We are excited to announce the seed round funding and thankful to our investors, our goal is to build a technology-driven solution to the problems of the conventional cold-chain network in India”
According to the company, due to COVID-19 vaccine requirement there has been an increase in demand for cold chain solutions in the country. The vaccine is heavily dependent on a robust and seamless cold-chain network for effective distribution.
Atul Javeri, CEO of the Mumbai-based EVAN said “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”.
The 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, Bowie Lau, MD, MaGEHold, said.
“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 building a 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.