Introduction to Citrus Freight
Citrus Freight, a Bengaluru-based logistics tech startup, has successfully raised Rs 2.5 crore in a bridge funding round. This round was led by investors such as Caret Capital, Indigram Labs Foundation, and other strategic investors. The fresh funding brings the startup’s total funding to Rs 5.25 crore.
What Citrus Freight Does
Citrus Freight operates a mobile-first platform designed to help Indian exporters book refrigerated containers with ease. The platform offers end-to-end support, including customs clearance, surface transport, and real-time temperature tracking. Founded in 2016 by Biplob Barik and Ricky Goyal, the startup has built a reputation for handling temperature-sensitive commodities like fruits, vegetables, meat, marine products, and flowers, especially for small and medium-sized enterprises (SMEs) in the agricultural export sector.
Services and Impact
The startup’s platform has significantly reduced booking times from 72 hours to just 10 minutes. It has also helped reduce spoilage while expanding client market reach by more than 40%. Citrus Freight supports exports to regions including Europe, the Middle East, and Southeast Asia. Exporters are provided with a digital dashboard that includes integrated features like predictive analytics, compliance workflows, and remote temperature monitoring. This comprehensive approach has been instrumental in solving export inefficiencies for Indian SMEs, enabling them to compete globally.
Future Plans and Funding Utilization
The new funding will be utilized to further develop Citrus Freight’s tech stack, with a focus on boosting analytics and improving the temperature tracking layer critical to perishable goods transport. With this enhanced capability, the startup aims to move 1,500 containers and generate Rs 45 crore in revenue over the next 12 to 24 months. This ambitious plan underscores the company’s commitment to growth and its mission to facilitate smoother, more efficient logistics for Indian exporters.
Conclusion
Citrus Freight’s success in raising additional funding and its plans for expansion highlight the potential for logistics tech startups in India. By addressing the specific needs of SMEs in the agricultural export sector, Citrus Freight is not only contributing to the growth of these businesses but also enhancing India’s export capabilities. As the company moves forward with its plans, it will be interesting to see how its innovative approach to refrigerated container shipping continues to make a positive impact on the industry.
