Swiss-based firm SkyCell has raised a $57 million funding round. The investment was provided by M&G's Catalyst Fund and will see its temperature-controlled hybrid containers and technological solutions support pharma supply chains globally.
SkyCell is scaling up the availability of its containers by expanding its global service centre network which services customers within 24 hours’ notice at their global manufacturing hubs.
With $35 billion worth of products lost annually due to temperature issues within the supply chain, particularly at airports because of loading risks, SkyCell has tackled the issue with its hybrid container which can withstand temperatures of -30°C to +70°C.
It claims its lightweight design and greater payload efficiency reduces CO2 emissions by up to 50 percent, while its platform helps customers to predict CO2 impact and plan sustainable routes while enabling real-time, end-to-end oversight of every shipment around the world.
"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," says Praveg Patil, Deputy Head of EMEA Investments at M&G’s Catalyst team.
"SkyCell brings deep technology to solve a significant challenge for the pharmaceutical industry, reducing risk and environmental impact whilst saving both time and money. With this additional investment, SkyCell is well positioned for sustained growth in a fast-expanding market," says Gerber.
Lead image: via SkyCell. Photo: Uncredited.