Mumbai-based Celcius Logistics, a cold chain marketplace, has raised Rs 100 crore in a Series A funding round led by IvyCap Ventures. Ten Kapoor, the managing partner of the venture capital will join the board of the 

With this recently raised fund, the company will focus on its sustainability goals. Additionally, it will utilise the capital for tech advancements to solve supply chain issues and will reduce wastage. 

Prior to this, the company raised Rs 35 crore from investors including Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN) and others. 

Addressing the decision to invest, Vikram Gupta, the founder and managing partner (MP)  of IvyCap Ventures, said, " We are glad to have partnered with Celcius Logistics, which is revolutionising the cold supply chain sector with its innovative approach." 

"Given its focus and the expertise of the team, we are confident that Celcius will emerge as the leading brand in this space," he added. 

Talking about the latest development, Swaroop Bose the founder and CEO of Celcius Logistics, said, "From our humble beginnings with just five employees during the COVID-19 pandemic, we have become a leading player in the cold supply chain industry, with a team of 125 dedicated employees and an operational presence in 350+ cities across the country,"

According to a company statement, Celcius achieved 20x growth last year and has worked with clients like Zepto, Zomato, Maersk, Prabhat Dairy, Baskin Robbins, Vadilal, Dominoes and Keventers. The company bagged Rs 13.8 crore in revenue from operations in the financial year (FY) 2022 from Rs 74 lakh in FY21.