Celcius, a cold chain marketplace, has raised a bridge round of $4.5 million from Mumbai Angels. Other investors included Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, Huddle and EVAN.
This is a part of the bigger Series A funding round of $10 million in progress.
Celcius said it would use the capital to build its tech, sales and operations teams while expanding to over 500 cities this year, and to create development programs to assist transporters across the country.
Celcius provides end-to-end cold chain solutions in over 300 cities across India. The platform has 2,500 vehicles and 107 cold storage facilities. It claims to have grown 20X in 1 year.
