Celcius Logistics raises Rs 250 Cr in Series B round

Celcius Logistics, a cold chain-focused third-party logistics (3PL) startup, has secured ₹250 crore (approximately $30 million) in a Series B funding round co-led by Eurazeo and Omnivore, with continued support from existing backer IvyCap Ventures. This brings the company’s total funding to ₹390 crore, including a ₹40 crore pre-Series B round in May 2024 and earlier investments from Mumbai Angels, VCats, and Endiya Partners.

Founded in 2020 and headquartered in Navi Mumbai, Celcius provides end-to-end cold chain logistics solutions using its proprietary tech stack, which includes Transport Management System (TMS), Warehouse Management System (WMS), and Inventory Management System (IMS). These tools help streamline coordination between manufacturers, transporters, and cold storage providers.

The fresh capital will fuel Celcius’s expansion into more than 1,000 cities across India and further strengthen its technological capabilities. The company is also doubling down on pharmaceutical logistics, a vertical it recently entered, to support the growing demand for temperature-sensitive medical shipments.

Currently, Celcius operates in over 600 cities with a network of 4,000+ refrigerated vehicles, 150 cold storage units, and 250 hyperlocal delivery riders. Its clientele includes leading brands such as Blinkit, Zepto, Zomato, Domino’s, Keventers, and Baskin Robbins. Since 2021, the company claims a consistent 2.5x year-on-year revenue growth, although its FY24 and FY25 financials are yet to be disclosed.

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