SkyCell Raises $35M in Series C Funding
SkyCell, a Swiss pharma-tech company manufacturing smart containers enabling the safe, secure, and sustainable transportation of pharmaceutical products, raised $34.8m (CHF 32m) in Series C funding.
The round – a combination of equity and debt financing – included DisruptAD (the venture capital arm of Abu Dhabi-based sovereign wealth fund ADQ), SHUAA Capital psc (DFM: SHUAA) (the UAE’s leading publicly-listed asset management and investment banking firm), and China-based and Zurich-based family offices with strategically important networks. Existing investor Mobiliar, the oldest private insurance company in Switzerland, also participated with follow-on funding.
The company intends to use the funds to gain further access to the Middle and Far East regions, to grow its sales teams, to continue to make strategic investments and drive innovative product developments, to further differentiate its hardware and SaaS offerings based on their needs and become their distribution solution of choice for cold chain.
Founded in Switzerland in 2012 and led by Richard Ettl, co-founder and CEO, SkyCell designs and manufactures smart containers that allow pharmaceutical companies to predict, reduce, and control the risks associated with transporting temperature-sensitive drugs. The system is powered by a growing pool of nearly one billion data points on factors including carriers, handlers, airports, outside temperatures, locations, and transit times.
Skycell has on-the-ground global presence in San Francisco, Philadelphia, Seoul, Rome, Toronto, Tokyo, Seoul, and Ireland, has signed new partnership agreements with eight airlines, including Qatar, Saudia Cargo, KLM Airfrance Martinair Cargo, Korean Air, LOT, Virgin Atlantic,JAL, and All Nippon Airways, as well as logistics partners such as DB Schenker and DSV.