FLV announces its first investment in Indicold, a tech-enabled cold supply chain company, signaling growth in India’s logistics sector.
Early growth investment fund, Fundalogical Ventures (FLV), has marked its entry into the investment arena with a significant move. FLV has chosen to back Indicold, a burgeoning player in the tech-enabled cold supply chain industry, by participating in its Pre-Series A funding round. The infusion of capital is poised to fuel Indicold’s expansion plans, primarily focusing on technological advancements, geographical diversification, and team augmentation.
Backed by prominent figures such as Krishna Kotak, Tushar Jani, Mehernosh Currawalla, Khalid Vohra, and Suryakant Parekh, Fundalogical Ventures distinguishes itself by operating in the early growth niche, straddling the intersection of venture capital and private equity. It zeroes in on high-growth sectors like Supply Chain and Logistics, alongside complementary domains driven by supply chain dynamics.
Tushar Jani, a sponsor of Fundalogical Ventures, underscored the promising trajectory of cold logistics solutions in India, emphasising Indicold’s potential to revolutionize the sector. Ratna Mehta, CEO & Managing Partner at Fundalogical Ventures, echoed this sentiment, expressing optimism about the burgeoning innovation landscape within the supply chain domain.
Established in 2019, Indicold is on a mission to establish a sustainable and efficient cold supply chain network. Serving as a comprehensive B2B solution provider, the company’s strategic focus spans across the Store, Move, and Prepare verticals, catering to esteemed clientele including Amul, Unilever, Britannia, and Zomato.
Niharika Jalan, Co-founder CGO at Indicold, hailed the partnership with Fundalogical Ventures, emphasizing shared values of growth and sustainability. Kartik Jalan, Co-founder CEO, highlighted Indicold’s emphasis on state-of-the-art automation and sustainability, leveraging technologies like AI and ML.
Indicold’s ambitious plans include setting up India’s first frozen Automatic Storage and Retrieval System in Gujarat, while also expanding its geographical footprint and client base across diverse industries. With a remarkable 3x year-on-year growth in the past 12 months, Indicold stands poised for exponential expansion.
