Angel Investments
Cold chain aggregator Celcius raises $4.5 M from Mumbai Angels, Endurance Capital, others
Mumbai-based SaaS-based cold chain aggregator Celcius has raised USD 4.5 million (about INR 35 crore) in a bridge funding round from investors including Mumbai Angels and Endurance Capital, to expand its operations this year. Other investors who participated in the round include EVAN, Supply Chain Labs, VCats, Keiretsu Forum, and Huddle. The new capital will be used to expand to over 500 cities this year. Part of the funds will also go towards growing the tech, sales and operations teams and working on development programmes to aid small-scale and regional transporters. Celcius had in August last year received USD 5,00,000 in a seed fund round from Mumbai Angels Network. Huddle, Lumis Partners, Venture Capital and private equity firms MaGEHold, Keiretsu Forum, Eaglewings Ventures Alliance Network (EVAN), and investors from Malaysia, Nigeria, and the US also participated in the round.
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