Celcius Logistics raises Rs 250 crore in series B funding to expand cold chain network

Celcius Logistics announced it has closed its oversubscribed Series B round, raising a substantial amount of Rs 250 crores through a combination of equity investment, debt financing, and secondary transactions. Leading equity investors Eurazeo and Omnivore co-led the round, which saw participation from existing investors IvyCap Ventures, along with debt partners including Trifecta Capital, Lighthouse Canton, BlackSoil, UCIC, and GetVantage, among others. Celcius Logistics’ proprietary tech solutions address critical industry needs, such as food safety, temperature control, and end-to-end monitoring of sensitive shipments, all while reducing wastage and maintaining quality.

This funding will help the company expand its network to more than 1000 cities in India and enhance its technology platform to meet the growing demand for temperature-sensitive logistics across multiple sectors. Recently, Celcius has made significant inroads into pharmaceutical logistics, ensuring safe and efficient transportation of critical medical supplies nationwide.

“The funding comes at a pivotal time as we scale our operations and strengthen our capabilities across all verticals, said Swarup Bose, Founder & CEO of Celcius Logistics. 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. This support enables us to bridge critical industry gaps and drive meaningful transformation in the ecosystem.”

Earlier in May last year, the end-to-end cold chain solutions provider raised ₹40 crore in a pre-series B round. Till date, the company has raised around ₹390 crore to expand its cold chain network and capabilities.

Jinesh Shah, Managing Partner at Omnivore, said, “We are excited to deepen our partnership with Celcius as they revolutionize cold chain logistics to meet the urgent need for energy-efficient, climate-resilient solutions in a warming world. By addressing chronic challenges while serving critical food and pharmaceutical industries, Celcius delivers both environmental and economic value.”

Ernest Xue, Managing Director at Eurazeo and newly appointed director of Celcius’ board of directors, Julien Mialaret, Operating Partner and Matthieu Bonamy, Partner at Eurazeo, shared, “India’s fragmented cold chain ecosystem has long constrained the flow of critical products such as food and pharmaceuticals across the country, resulting in significant economic and access inefficiencies. As climate volatility accelerates and global demand for resilient infrastructure grows, there is a critical need for intelligent platforms that drive both decarbonisation and systemic reliability at scale. Our investment in Celcius reflects our conviction that technology-led innovation in logistics is no longer a luxury but a necessity — especially when it is built by founders with deep operational insights and a strong execution culture. Having supported the transformation of logistics value chains globally, Eurazeo is proud to back a company that is not only modernizing cold chain infrastructure across India but also advancing the climate mitigation agenda in one of the most essential yet underserved segments of the supply chain.”

Commenting on this, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures, said, “Celcius is addressing a critical gap in supply chain at scale—their tech-first approach to cold chain logistics is redefining how perishables are transported across India. As we reinvest in their journey, we see even greater potential in their ability to drive quality, efficiency, and reliability across sectors that are vital to the Indian economy.”

Established in 2020, the company currently operates in 600+ cities with a network of 4,000+ vehicles and 150+ cold storage and distribution facilities. Celcius has shown consistent top line growth of 2.5x YoY since 2021. It is the cold chain logistics provider with a robust network of dark stores, distribution centers and 250+ hyperlocal riders ensuring fast, fresh, and reliable deliveries pan-India from as small as 500 grams to thousands to tonnes serving a range of clients like emerging new-age D2C brands to large corporates. Some noteworthy clients include brands like Blinkit, Zepto, Zomato, Baskin Robbins, Domino’s, Keventers, etc.