SkyCell, a startup that wants to make pharmaceutical supply chains more sustainable, has raised $57 million from M&G Investment’s private assets arm Catalyst.
The Zurich-based startup, which was founded in 2012, has developed a smart container for pharmaceutical goods — such as vaccines, medication, and diagnostic solutions — to be delivered across the world.
These shipping containers can sense the status of the deliveries in real-time, and maintain everything from the temperature to the vibrations within the box, in a bid to minimize any damage to the goods. This curbs the amount of waste otherwise created.
The startup’s other key aim is to help pharma companies reduce their carbon footprint, in an industry “which emits two gigatons of CO2 each year, making it the fifth-largest emissions contributor globally,” said cofounder and CEO Richard Ettl.
SkyCell’s software platform allows customers to “predict the CO2 impact and plan routes to maximize sustainability,” the company said. The shipping containers are also designed to be lightweight, so as to reduce carbon emissions by up to 50%.
At the height of the COVID-19 pandemic, the startup found heightened use for its product and technology when pharma companies had to ship vaccines — which are especially temperature sensitive — across the world. The containers are designed to withstand temperatures between -30°C to over 70°C.
The startup makes its money by providing hardware, software and services to clients, and it hit profitability in 2023, according to Ettl. SkyCell has stated that it works with “the majority of the top 20 pharmaceutical companies,” TechCrunch previously reported.
The round was led by Catalyst, which has previously invested in the likes of Climeworks and Nuclera. This brings SkyCell’s total funding to $185 million, according to the company.
This new round of funding will ramp up the growth of its global service centre, so that clients can get deliveries within 24 hours’ notice at their global manufacturing hubs.
See the 11-slide pitch deck it used below.
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