Cold Chain Startup Celcius Raises $4.5 Million To Help Small-Scale Regional Transporters Across India
Mumbai-based cold chain startup Celcius has raised $4.5 Mn as a part of a Series A funding round led by Mumbai Angels. It aims to close the Series A round at $10 Mn in the coming months.
The round saw participation from investors such as Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, Huddle, and EVAN.
The fresh capital will be used to expand footprint to more than 500 cities and strengthen teams across tech, sales and operations. The startup will further invest funds in the development programme that assists small-scale regional transporters across India.
Founded in 2020 by Swarup Bose, Rajneesh Raman and Arbind Jain, Celcius offers reefer logistics and cold storage warehousing to companies. Through its web and app, it connects shippers and transporters across India. It has partnered with several financial institutions such as Shriram Transport and Finance Company and with OEMs–Ashok Leyland and Tata, among others.