Working capital platform GetVantage invests Rs 5.4 crore in three logistics startups

GetVantage, an embedded finance and working capital platform, has invested Rs 1.8 crore in growth capital each across three logistics startups: Celcius Logistics, Ohm Logistics, and Fitsol.

The funding comes at a pivotal time as logistics businesses operate at full capacity to meet the high demand during the festive season.

GetVantage funds through its licensed NBFC GetGrowth Capital and its AIF Venture Finance Fund with Varanium Capital, among other partner NBFCs.

Momentum in the logistics sector

The logistics sector has seen significant momentum in recent months, driven by the increasing needs of emerging local brand startups and other businesses preparing for the festive rush along with the Travel industry.

The fresh round of growth financing will enable Celcius, Ohm, and Fitsol to scale their operations and meet working capital requirements to cater to the growing demand from businesses across sectors.

"The logistics industry is set to play a critical role in supporting India’s $5.5 trillion GDP economic ambitions. GetVantage is empowering the next generation of innovators by fueling their growth at a critical juncture with non-dilutive capital. Our commitment to Celcius, Ohm, and Fitsol demonstrates our belief in the future of clean tech and green energy in logistics," said Bhavik Vasa, Founder of GetVantage.

"Together, we're driving sustainable solutions to meet soaring market demand, underlining its significance in both domestic and international markets. We are thrilled to be a part of this massive transformation in the sector by backing innovative yet high revenue-generating companies," Vasa added.

What did the founders say?

Swarup Bose, CEO & Founder of Celcius Logistics, added, “At Celcius, our mission is to make cold chain logistics more efficient and reliable through the use of technology. We aim to build a strong ecosystem that ensures the safe and timely delivery of temperature-sensitive goods throughout the country, whether it's food, pharmaceuticals, or other perishables. GetVantage has been a partner with us in this journey and we look forward to more associations.”

Anand Pathak, Founder of Fitsol, also shared, “Fitsol is a decarbonization partner for manufacturing companies and we want to reduce 1 bn ton of CO2 from the supply chain. To achieve this goal, we partnered with GetVantage for working capital and it was a great experience working with their team. They were quick to respond, adhering to the time commitment of delivery.”

India's growth in the logistics sector

India's logistics sector continues to evolve, integrating technology and automation to offer efficient supply chain solutions for domestic and global merchants alike. The country now ranks 38th out of 139 on the Logistics Performance Index, highlighting the importance of this industry.

Contributing 13-14% of the national GDP and employing over 22 million people, the logistics sector plays a vital role in the nation’s economy.