SkyCell has successfully secured $59 million in funding to further develop their eco-friendly pharmaceutical transport containers. This funding will enable the Swiss startup to expand its operations, particularly in Asia and the U.S., working with companies in these regions. The Series D funding round, which closed at $116 million, has brought SkyCell’s valuation to $635 million, marking a significant milestone for the company.
The journey of SkyCell began in 2012 when founders Richard Ettl and Nico Ros were tasked with designing a storage facility for a Swiss pharmaceutical company. This project laid the foundation for the development of SkyCell’s innovative transport containers, equipped with smart technology powered by machine learning to maintain optimal conditions for temperature-sensitive drugs. The company’s software logistics system, SkyMind, ensures the safe and secure transport of pharmaceutical products around the globe.
Over the years, the demand for secure pharmaceutical transportation has increased significantly, with SkyCell experiencing 50% annual growth. The company now moves an estimated $2.5 billion worth of pharmaceutical products monthly, including vaccines, cancer treatments, and diabetes medicines. The need for environmentally friendly solutions has also become a top priority for pharmaceutical companies, as they strive to reduce their carbon footprint.
SkyCell’s lightweight containers have proven to be a sustainable alternative, reducing CO2 emissions by 50% compared to traditional containers. This eco-friendly approach has resonated with customers, prompting pharmaceutical companies to prioritize decarbonization in their supply chains. SkyCell’s innovative solutions have positioned the company as a key technology partner for the pharmaceutical industry, offering a comprehensive system that combines hardware, software, and data analytics.
In addition to their core products, SkyCell has also ventured into selling individual components to customers, such as smart thermometers for storage environments. This diversification of offerings reflects the company’s commitment to meeting the evolving needs of the pharmaceutical industry and driving innovation in cold-chain logistics.
Overall, SkyCell’s recent funding success and focus on sustainability underscore the growing importance of eco-friendly solutions in the pharmaceutical sector. As the company continues to expand its reach and develop cutting-edge technologies, it is poised to play a pivotal role in revolutionizing pharmaceutical logistics on a global scale.
