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Celcius Logistics, a Navi Mumbai-based cold chain logistics startup, has raised Rs 250 crore (approximately $30 million) in a Series B round co-led by global investment firm Eurazeo and agritech-focused venture fund Omnivore.
The funding round also saw participation from existing investor IvyCap Ventures. Debt financing came from Trifecta Capital, Lighthouse Canton, BlackSoil, UCIC, and GetVantage.
The round, which was oversubscribed across equity, debt, and secondary channels, will fuel Celcius’s goal to scale its operations across 1,000+ Indian cities, deepen its technology capabilities, and bolster pharmaceutical and food-grade logistics infrastructure.
What does Celcius Logistics do?
Founded in 2020 by Swarup Bose, Celcius is building a digital-first logistics network designed to address India’s chronic cold chain inefficiencies. Its platform currently powers a fleet of over 4,000 temperature-controlled vehicles, 150+ cold storage and distribution centres, and a network of 250 hyperlocal riders, servicing over 600 cities.
The startup’s clientele includes high-frequency food and grocery delivery platforms such as Blinkit, Zepto, Zomato, as well as Domino’s, Keventers, and Baskin Robbins.
“This funding comes at a pivotal time as we scale our operations and strengthen our capabilities across all verticals,” said Swarup Bose, Founder and CEO.
“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.”
Pharma push and tech expansiondigital-first
With this latest round, Celcius is sharpening its focus on pharma logistics, a growing segment demanding precision and compliance. Its proprietary tech platform supports real-time temperature tracking, route optimization, and end-to-end visibility, ensuring safety and quality during transit—especially critical for medicines and vaccines.
Since its inception, Celcius has raised Rs 390 crore across various rounds, including a Rs 40 crore pre-Series B round in May 2024. It competes in an increasingly strategic logistics category alongside Snowman Logistics, Coldrush Logistics, Stellar Value Chain, Tessol, and TCI Cold Chain Solutions, amid rising demand for resilient infrastructure supporting India’s fast-evolving food and pharma markets.
“India’s cold chain inefficiencies have historically constrained the flow of food and pharma products, leading to massive wastage and economic losses,” said Ernest Xue, Managing Director at Eurazeo, alongside Julien Mialaret and Matthieu Bonamy. “As climate volatility accelerates, tech-led cold chain infrastructure is not a luxury but a necessity.”
“Celcius is revolutionizing cold chain logistics to meet the urgent need for energy-efficient, climate-resilient solutions in a warming world,” added Jinesh Shah, Managing Partner at Omnivore.
Focused on growth
Celcius claims to have posted 2.5x annual revenue growth since 2021, driven by demand from fast-moving consumer categories and its ability to orchestrate logistics through a unified digital interface. Its technology suite includes transport, warehouse, and inventory management systems, enabling seamless coordination between manufacturers, transporters, and warehouse partners.
“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,” said Vikram Gupta, Founder, Managing Partner, IvyCap Ventures.
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