Funding

[Funding alert] Swiss-based Firm SkyCell Secures $57Million in Funding

Oct 31, 2023 | By Startup Rise EU

Swiss-based firm SkyCell secures $57 million in funding. With this investment, which came from M&G's Catalyst Fund, pharmaceutical supply chains around the world will be backed by its temperature-controlled hybrid containers and technical solutions.
Richard Ettl - CEO (Left), Nico Ros - CTO of Skycell (Right)

Swiss-based firm SkyCell secures $57 million in funding. With this investment, which came from M&G's Catalyst Fund, pharmaceutical supply chains around the world will be backed by its temperature-controlled hybrid containers and technical solutions.

By growing its global network of service centres, that offer customers with 24-hour notice at their global manufacturing hubs, SkyCell is increasing the availability of its containers.

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With $35 billion in products wasted every year as a consequence of supply chain temperature problems, especially at airports where loading hazards exist, SkyCell solved the problem with its hybrid container, which can withstand temperatures ranging from -30°C to +70°C.

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Praveg Patil, Deputy Head of EMEA Investments at M&G’s Catalyst team said,"We believe the innovative design of the SkyCell solution will play a key role in decarbonising the pharmaceutical supply chain and ensure zero waste. From an impact perspective, this investment covers two key thematic areas for Catalyst – climate solutions and healthcare and provides our investors with exposure to the attractive growth potential of high-end biological pharmaceutical products,".

Dr. Remo Gerber is also welcomed to SkyCell as its new CFO. Gerber was the MD for Western Europe at Gett and the former COO for Northern Europe at Groupon. He was formerly an advisor at McKinsey & Co.

About SkyCell

SkyCell, the innovative Swiss business offering state-of-the-art temperature-controlled hybrid containers that are transforming pharmaceutical logistics worldwide.

The supply chain operating system SkyCell SECURE, which is powered by data-driven technology, minimises and predicts the danger of destroying precious cargo, hence optimising the pharmaceutical supply chain.

Read also - Amsterdam-based Cheflix Secures €1 Million in New Round of Funding

Our ground-breaking method has been endorsed by top pharmaceutical firms and trusted by major airlines, offering an industry-leading temperature excursion rate of less than 0.1% and a significant reduction in CO2 emissions.

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