Crystal Logistic Raises ?Mn Funding From?Neev Fund

Posted by Kumkum on January 20th, 2018

Kolkata-based complete 'cold' logistics and supply chain 'service' provider Crystal Logistic Cool Chain Ltd. has raised its 1st individual fairness funding of $ 10 Mn ( INR 66 Cr ) , led by Neev Fund .

The stale chain manufacture consists both stale chain storages and 'cold' chain logistics supply direction. This includes pulling off the conveyance of perishable goods under a temperature-controlled environs.

Neev Fund, backed by State Bank of India, was established in November 2015 by PM Narendra Modi to assist low-toned income states with fairness partnerships for little infrastructure evolution. The fund had earlier invested in another 'cold' chain logistics 'service' provider, Milk Mantra in January 2017.

Established in 1962 by Murari Lal Agarwal, primarily as a conveyance 'service' provider, Crystal Logistic switched over to cold chain 'trading operationss' in 2001. Crystal Logistic’s 'service' portfolio includes end-to-end, temperature-controlled, logistics solutions . These consist third-party logistics (3PL), refrigerated and ironic – 'primary election' and junior-grade – 'transportation system’, refrigerated repositing and value-added services on a pan-India web. Crystal also supplies solutions such as Express Refrigerated Transportation for LTL (Less-Than-Truck Load) consignments and portable stale storehouse.

The company’s clients admit Amul, Creambell, KFC, Pizza Hut, ITC, Britannia and Mother Dairy, among others.

The raised finances will be used in expanding the company’s infrastructure and warehousing capability by constructing advanced 'cold' chain 'statistical distribution' hub across India.

As stated by Murari Lal Agarwal, Chairman, Crystal Logistic Cool Chain Ltd , “The stale storehouse market in India is highly disconnected with over 3,500 players in the unorganized sphere and less than 50 in the organized sphere. Crystal Logistic is the only companionship in the state to supply a consummate scope of services in the 'cold' chain logistics manufacture and this sphere is expected to turn at a CAGR of over 15 % by 2020. There is a chance for us to occupy the leading place in this vertical.”

The entire 'economic value' of the stale chain manufacture in India is expected to make ~ $ 13 Bn by 2017. The information is in argumentation with a study published by Indiacoldchainshow.com, which is known for organizing India’s large craft display on the stale chain manufacture. Also , harmonizing to manufacture estimates , around 104 million metrical tonnes of perishable 'green goods' is transported between cities each twelvemonth Of this fig , about 100 million metrical tonnes moves via non-reefer manner and only 4 million metrical tonnes is transported by joint .

As per a imperativeness liberation published by Crystal Logistic, in India 95 % of the entire stale storehouse market portion is with individual players and it is a major gross subscriber for the Indian 'cold' chain manufacture. The cardinal growing drivers admit growing in organized retail and nutrient services manufacture, authority’s initiatives, and rising requirement for refined and rooted nutrient.

http://www.crystalgroup.in/