SkyCell Raises $116 Million in Series D Funding to Drive Global Expansion and Decarbonization Efforts

Update : 4th July, 2024

SkyCell, a leading provider of temperature-controlled container solutions for pharmaceuticals, announced the closing of a $116 million Series D funding round. 

This investment will be used for the continued expansion of SkyCell’s global footprint with a key focus on growth across the Americas, EMEA, and Asia. Additionally, the funding will enhance the company’s fleet to further reduce CO2 emissions, aiding pharmaceutical companies in their decarbonization efforts.

SkyCell's Dr. Remo Gerber, CFO (left) and Richard Ettl, Co-founder and CEO (right)

The series D funding includes $59 million from the Asia-based global growth investor Tybourne Capital Management, and CC Industries (CCI), the Chicago-based holding company for the Crown family. This follows a $57 million equity investment from Catalyst, M&G Investments’ purpose-led private assets strategy. This substantial investment will enable SkyCell to further enhance our innovative solutions and solidify the company’s position as a key player in the pharmaceutical logistics sector.

“Gaining CCI and Tybourne as investors significantly broadens our footprint in the US and Asia and is a testament to our high growth based on strong financial business fundamentals. Having built the technological foundations in cold chain hardware and software/IoT-enabled tracking, this investment enables us to commercialize our platform into adjacent pharma market segments, significantly expanding our total addressable market beyond cold chain packaging,” said Dr. Remo Gerber, CFO, SkyCell.
Richard Ettl, Co-founder and CEO of SkyCell highlighted, “Our reusable 1500X container saves, on average, 50% CO2 or, in absolute terms, 8 tons CO2e per use. This means for a typical pharma customer today we save more than 250,000 tons of CO2 every year without compromising quality. And finally, digitalization is coming to pharma supply chains – moving away from manual worksheets to integrated workflows that leverage S+O data (simulated and operational data) from our proprietary pool of billions of data points. Combined with the power of AI, this enables significant reductions in both cost and risk for our customers. With this new investment, we can further optimize supply chains and create truly sustainable logistics.”

Every month, SkyCell containers protect more than $2.5 billion of pharmaceutical goods, including millions of doses of vaccines, cancer treatments, diabetes care, and diagnostic solutions for patients around the world. The company’s proprietary technology, coupled with its SkyMind software platform, streamlines shipment management and optimizes supply chains, addressing risk, cost, and CO2 emissions. The DECARBONIZE tool within the suite enables clients to predict, track, and report CO2 emissions, furthering sustainable logistics.

Find out more about SkyCell here!

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