SkyCell, a Swiss startup specializing in advanced pharmaceutical transport solutions, has secured an additional $59 million in funding to bolster its operations aimed at greener and more efficient logistics. This latest investment brings its Series D funding round to a total of $116 million, with Tybourne Capital Management and CCI leading the investment round.
The company plans to use the funds to expand its footprint in key markets such as Asia and the United States. SkyCell’s latest valuation now stands at $635 million, marking a significant increase from its previous valuation.
Founded in 2012, SkyCell initially focused on designing storage solutions for a major Swiss pharmaceutical firm. Over time, it pivoted to develop innovative transport containers equipped with smart technology. These containers leverage machine learning and sophisticated software to maintain precise temperature, humidity, and vibration levels crucial for transporting sensitive pharmaceutical products.
During the Covid-19 pandemic, SkyCell gained prominence for its ability to securely transport vaccines and other critical medicines worldwide. Today, the startup moves approximately $2.5 billion worth of pharmaceutical products each month, including vaccines, cancer treatments, diabetes medications, and diagnostic tools.
Richard Ettl, CEO of SkyCell, highlighted the growing complexity and urgency of pharmaceutical logistics, particularly in light of decarbonization efforts. “Pharmaceutical companies are increasingly committed to decarbonizing their supply chains,” Ettl noted. SkyCell’s containers, which are significantly lighter than traditional alternatives, contribute to a 50% reduction in CO2 emissions during transport.
Ettl underscored the economic incentive for pharmaceutical firms to adopt greener logistics solutions, estimating potential cost savings. “Reducing carbon footprint doesn’t just align with sustainability goals; it also makes economic sense,” he explained. “For example, cutting costs associated with carbon reduction initiatives can translate into substantial savings for large pharmaceutical companies.”
In addition to its core logistics offerings, SkyCell has unexpectedly found market demand for components of its smart container technology. For instance, the company now supplies its advanced smart thermometers to pharmaceutical customers, further diversifying its product portfolio.
Bosun Hau, Managing Director of Tybourne Capital Management, emphasized SkyCell’s pivotal role in transforming pharmaceutical logistics. “SkyCell’s integrated system of hardware, software, and data analytics represents a significant innovation in an industry that has seen little change for decades,” Hau remarked. “This comprehensive approach is critical for pharmaceutical companies aiming to manage supply chain risks and ensure timely delivery of life-saving medications.”
With the latest funding round, SkyCell is poised to strengthen its position as a technology partner of choice for the global pharmaceutical industry, driving innovation and sustainability in cold-chain logistics.
