Celcius Logistics Solutions Private Ltd., a start-up cold chain marketplace, said it had raised $4.5 million in a bridge funding round with Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, Huddle, EVAN and collected from others.
This round is part of the larger Series A funding the brand plans to close in the coming months for $10 million, the company said.
“The newly acquired funds will allow us to maintain the momentum of expanding our operations across the country. We plan to expand our reach to over 500 cities and support the country by shipping COVID-19 vaccines and other essential perishables to remote locations,” said Swarup Bose, Celcius founder and CEO.
The company said it will also provide some funding for technology, sales and operations teams, and development programs to support small and regional transportation companies across the country.
