Cold-chain marketplace startup Celcius announced on Tuesday that it has raised an undisclosed amount in seed funding for increasing its presence, expanding its partner base, and improving its tech platform.
The round saw participation from Eaglewings Ventures Alliance Network (EVAN), MaGEHold, Keiretsu Forum, and other investors, Celcius stated in a release.
Celcius was established by Swarup Bose, Rajneesh Raman, and Arbind Jain in November last year and says that it has transported more than 2,800 tonnes of perishable cargo, covering over 85 cities across India.
Bose, Founder and CEO, Celcius said, “We are ecstatic to announce ourWe aiming round and are thankful to all our investors. Our aim is to build a technology-driven solution to the problems of the conventional cold-chain network in India.”
As per the company, there has been a rise in demand for cold chain solutions in the country due to the pandemic. The COVID-19 vaccine requirement is massively reliant on a strong and seamless cold-chain network for efficient 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 crucial yet challenging part of a nation’s growth infrastructure.
It ensures a longer shelf life for perishable and temperature-sensitive goods and enables 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.
Celcius seems to be an innovative platform offering cold storage facilities and has huge growth prospects. My best wishes to the team of Celcius.Shishir Gupta, Founder and CEO, StartupLanes
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