Reefer container shipping platform Citrus Freight raises bridge round

Entrackr · 1d

Reefer container shipping platform Citrus Freight has raised Rs 2.5 crore in a bridge funding round, bringing its total funding to Rs 5.25 crore to date. The round saw participation from Caret Capital, Indigram Labs Foundation, and other investors. The proceeds will be used to strengthen the team and scale the company’s technology stack, including enhancements to its mobile-first platform, Citrus Freight said in a press release. Co-founded in 2016 by Biplob Barik and Ricky Goyal, Citrus Freight focuses on perishable logistics, particularly in the agricultural sector. The company offers a digital platform for booking refrigerated containers, providing end-to-end solutions including customs clearance and surface transport. It is known for its expertise in handling fresh produce, meat, marine products, and flowers, facilitating their export to global markets. Citrus Freight specializes in perishable logistics, offering services for a wide range of commodities such as fruits, vegetables, meat, marine products, and flowers. It provides a comprehensive suite of services, including container booking, customs clearance, surface transport, and dedicated customer support. The company utilizes temperature monitoring devices and real-time data to ensure the integrity of perishable goods during transportation. According to the Bengaluru-based company, it facilitates the export of Indian produce to various global destinations, including Europe, the Middle East, and Southeast Asia. The startup addresses export inefficiencies through an integrated mobile app that offers booking, compliance, temperature tracking, and predictive analytics. Citrus Freight states that it has focused on solving the perishable export challenges faced by SMEs, empowering them with the tools and infrastructure required to scale globally. The company claims to have reduced booking times from 72 hours to just 10 minutes and has helped clients minimize spoilage while expanding market reach by over 40%. Over the next 12–24 months, Citrus Freight aims to generate Rs 4.5 crore in revenue, with a target of moving 1,500 containers. It faces competition from other companies in the space, such as Wiz, Cogoport, and Intercont.