Indicold Secures Funding From Fundalogical Ventures to Transform Cold Supply Chain Sector

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Traditional cold supply chains often struggle with challenges like inefficiencies, limited visibility, and high operational costs. These issues make it tough for fresh products to be transported efficiently and without spoilage, affecting the operation and profitability of the businesses involved in the supply chain. Recognizing the challenges in the traditional cold supply chains, Fundalogical Ventures (FLV) invested in the Pre–Series A round raised by Indicold, a tech-enabled cold supply chain company.

Commenting on the investment, Mr. Tushar Jani, Sponsor, Fundalogical Ventures, “With the country’s rapidly expanding demand for efficient cold logistics solutions, we see immense potential for growth in this sector. With huge losses in storage and transportation of temperature-controlled food supply chains, Indicold’s visionary founders and innovative operations will bring value-added propositions to their customers.”

Founded in 2019, Indicold is building a future-ready sustainable cold supply chain network. It is a one-stop end-to-end B2B solution provider in environment-controlled logistics with faster turnaround, maximum asset utilization, and reduced operational costs. The company works across the entire cold supply chain through three verticals namely Store, Move and Prepare. Deep understanding and experience of the cold chain Industry in India, has helped Indicold build a marquee client base including the likes of Amul, Unilever, Britannia, Zomato, Jubilant Foodworks, Theobroma, Baskin Robbins, etc.

Looking forward, Indicold is setting up India’s first frozen Automatic Storage and Retrieval System – High Bay Warehouse with 7,000+ pallets in Gujarat which aims to create new standards in automation and supply chain solutions in India. Moreover, the company plans to expand its footprint across states, with clients across various industries to provide cold chain solutions. In the last 12 months, the company has grown 3x Y-o-Y.

Niharika Jalan, Co-founder of CGO, Indicold, says, “We are excited to partner with Fundalogical Ventures in our journey going forward. The ethos of both Indicold and Fundalogical are growth, innovation, and sustainability.”

Founded in 2019 by Kartik Jalan and Niharika Jalan, Indicold has become a complete solution provider in the cold chain industry. Specializing in cold warehousing, refrigerated transportation, and value-added services, Indicold helps in bridging the gap from farm to fork and from manufacturing to consumer.

Kartik Jalan, Co-founder and CEO, of Indicold, adds, “Indicold is implementing state-of-the-art automation in cold chain leveraging Deep Tech, AI, and ML with emphasis on sustainability. Our partnership with Fundalogical will accelerate our efforts in this direction.”

With a commitment to sustainability, Indicold leverages cutting-edge automation technologies, using Deep Tech, Artificial Intelligence (AI), and Machine Learning (ML) to shape the future of cold chain logistics in sectors ranging from food to pharmaceuticals and beyond.

The company’s tech-enabled approach can be seen through its unique solutions like Intelligent Mool (WMS) and Move applications, which are transforming the Indian cold chain ecosystem. Moreover, Indicold was recently selected as one of 16 logistics players by the Government of India to showcase its tech solutions during the launch of the National Logistics Policy on September 17, 2022. Additionally, Indicold was the sole representative from the cold chain sector, highlighting its industry-leading innovations.

“We are taking initiatives to create sustainable and future-ready warehouses and are ensuring process efficacy and implementation through automation.” Said Kartik Jalan – Founder, Indicold.

Fundalogical Ventures (FLV) is an early growth investment fund with a focus on key sectors such as supply chain and logistics, along with areas like consumption-led businesses. The fund focuses on investing in innovative early-growth companies, with an average investment ranging from ₹20 to 80 Crore throughout their investment lifecycle.

FLV is headed by Ratna Mehta, who is the CEO and Managing Partner and will lead the overall investment management of the fund.

Fundalogical Ventures

Fundalogical Ventures is backed by seasoned entrepreneurs, financial services industry veterans, and well-known sponsors such as Mr. Krishna Kotak, Chairman of JM Baxi Group, Mr. Tushar Jani, Blue Dart Founder, Mr. Mehernosh Currawalla of FAK Cargo Dynamics, Mr. Khalid Vohra of SAI Shipping and Mr. Suryakant Parekh of Polestar & Parekh Group.

FLV’s investment strategy is present between venture capital (VC) and private equity (PE), focusing on high-growth sectors such as Supply Chain and Logistics. With a goal to build a strong portfolio, FLV has decided to target 10-15 companies for their investment in this fund.

Ratna Mehta, CEO & Managing Partner, of Fundalogical Ventures says, “We believe that the next decade is going to see a lot of innovation in the supply chain space to support the consumption and manufacturing growth in India. We are excited to partner with Indicold which is building a disruptive platform for cold supply chain solutions.”

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