Celcius Logistics, a Navi Mumbai-based cold chain logistics startup, has successfully raised ₹250 crore (approximately $30 million) in its Series B funding round. Global investment firm Eurazeo and agritech-focused venture capital firm Omnivore co-led the round, signaling growing investor confidence in Celcius’s digital-first logistics model.
The round attracted significant participation from existing investor IvyCap Ventures. In addition to equity funding, Celcius secured debt financing from Trifecta Capital, Lighthouse Canton, BlackSoil, UCIC, and GetVantage. The Series B round witnessed oversubscription across equity, debt, and secondary components, underlining strong market appetite for tech-enabled solutions in India’s cold chain sector.
Scaling to 1,000+ Cities and Strengthening Tech Stack
Celcius will channel the new capital into expanding its presence to over 1,000 Indian cities. The company also plans to bolster its technology infrastructure, enhance pharmaceutical and food-grade logistics capabilities, and grow its asset-light operations.
Founder and CEO Swarup Bose emphasized the strategic timing of this raise. “This funding comes at a pivotal time as we scale our operations and strengthen our capabilities across all verticals,” he said. “We are focused on expanding our reach, deepening customer partnerships, and delivering seamless, reliable, and efficient temperature-sensitive logistics using our tech-driven cold chain solutions.”
Since its launch in 2020, Celcius has built a powerful logistics platform tailored for India’s vast, fragmented cold supply chain landscape. Today, its ecosystem includes a fleet of over 4,000 temperature-controlled vehicles, more than 150 cold storage and distribution centers, and 250 hyperlocal delivery riders. The company’s network currently services over 600 Indian cities.
Trusted by India’s Fastest-Growing Brands
Celcius works with a wide array of high-frequency food and grocery platforms. Clients such as Blinkit, Zepto, Zomato, Domino’s, Keventers, and Baskin Robbins rely on Celcius to ensure timely and safe transportation of perishable goods.
As India’s consumer economy shifts towards instant delivery, maintaining cold chain integrity has become vital for brand reputation and regulatory compliance. Celcius meets this demand with an end-to-end tech suite that includes route optimization, real-time temperature monitoring, and digital proof of delivery.
The startup orchestrates logistics with a unified platform that integrates transport, warehouse, and inventory management systems. This cohesion allows seamless coordination among manufacturers, third-party transporters, and warehousing partners—an approach that reduces delays, product spoilage, and operational inefficiencies.
Deepening Focus on Pharma Logistics
With this latest fundraise, Celcius is intensifying its focus on pharmaceutical logistics, an area that demands high precision, traceability, and regulatory compliance. The platform’s proprietary technology enables real-time tracking of temperature-sensitive shipments, ensuring quality and safety for critical cargo such as vaccines, insulin, and life-saving drugs.
The pharmaceutical logistics market in India is expanding rapidly, especially after the global focus on vaccine distribution during the COVID-19 pandemic. Celcius aims to bridge longstanding gaps in the pharma supply chain by offering tech-led, compliant, and reliable cold chain infrastructure.
Investors Back the Vision
Investors supporting this round echoed strong faith in Celcius’s leadership and market potential. Ernest Xue, Managing Director at Eurazeo, along with Julien Mialaret and Matthieu Bonamy, emphasized the urgent need for robust cold chain systems in the face of climate volatility. “India’s cold chain inefficiencies have historically constrained the flow of food and pharma products, leading to massive wastage and economic losses,” said Xue.
Jinesh Shah, Managing Partner at Omnivore, added, “Celcius is revolutionizing cold chain logistics to meet the urgent need for energy-efficient, climate-resilient solutions in a warming world.”
Vikram Gupta, Founder and Managing Partner at IvyCap Ventures, praised Celcius’s growth trajectory and market execution. “As we reinvest in their journey, we see even greater potential in Celcius’ ability to redefine reliability and efficiency in sectors vital to India’s economy,” he said.
Strong Growth Momentum
Celcius claims to have recorded 2.5x annual revenue growth since 2021, driven by surging demand from fast-moving consumer categories such as frozen foods, dairy, quick commerce, and pharmaceuticals. Its digital infrastructure and asset-light model allow the company to scale operations rapidly without the burden of owning massive fleets or storage facilities.
The company operates through a collaborative model that connects logistics operators with demand-side platforms and suppliers, creating a seamless supply chain ecosystem. Its approach enhances visibility and accountability across all stages of cargo movement, reducing losses and delays.
Competitive Landscape and Strategic Outlook
Celcius operates in a competitive space that includes major players like Snowman Logistics, Coldrush Logistics, Stellar Value Chain, Tessol, and TCI Cold Chain Solutions. Each of these companies is vying for a share of India’s growing cold chain logistics market, which is projected to reach over $10 billion by 2027.
Despite the competition, Celcius differentiates itself with its comprehensive tech-first platform and hybrid service delivery model. Its emphasis on operational agility, real-time tracking, and compliance makes it an attractive logistics partner for both established brands and emerging D2C startups.
With the new funds, Celcius plans to accelerate the rollout of its cold storage hubs in tier 2 and tier 3 cities. These centers will help extend reliable cold chain infrastructure to underserved regions, supporting rural agriculture, food safety, and last-mile pharmaceutical access.
Impact on Food Security and Climate Resilience
By reducing food spoilage and improving the efficiency of pharmaceutical distribution, Celcius contributes directly to national goals around food security, healthcare delivery, and climate resilience. According to industry reports, India loses over 30% of its perishable produce due to inadequate cold chain systems. Celcius aims to significantly cut down these losses by introducing scalable, tech-driven solutions across the country.
Its services also promote sustainability by optimizing routes, reducing fuel consumption, and enabling better inventory planning. In the long run, these efficiencies not only reduce environmental impact but also bring down logistics costs for producers and distributors.
Total Capital Raised and Future Roadmap
With the latest Series B round, Celcius has now raised a total of ₹390 crore since its inception. The company closed a ₹40 crore pre-Series B round in May 2024, which helped build early momentum for this larger raise.
Celcius plans to use the capital to deepen its research and development capabilities, expand strategic partnerships, and explore international opportunities in regions with similar infrastructure gaps. It also aims to offer AI-driven demand forecasting, automated inventory controls, and predictive maintenance solutions as part of its evolving tech suite.
Conclusion
Celcius Logistics stands at the forefront of India’s cold chain transformation. With strong backing from global and domestic investors, the company is well-positioned to scale its operations, modernize its infrastructure, and bridge critical gaps in food and pharma logistics.
Its tech-powered platform, strategic partnerships, and rapid growth trajectory make Celcius a standout player in one of India’s most important and underserved logistics segments. As the company expands into 1,000+ cities, it aims to set a new benchmark in reliability, safety, and efficiency for cold chain logistics in India.