On top of a USD57 million equity investment from Catalyst, SkyCell raised USD59 million from Tybourne Capital Management and CC Industries. This investment will be used for the continued expansion of SkyCell’s global footprint with a key focus on growth across the Americas, EMEA, and Asia and will enable the Zug-based company to solidify its position as a key player in the pharmaceutical logistics sector.
Every month, SkyCell containers protect more than $2.5 billion of pharmaceutical goods, including millions of doses of vaccines, cancer treatments, diabetes care, and diagnostic solutions for patients around the world. The success is built both on a proprietary cold chain technology as well as the software platform, SkyMind, which streamlines shipment and asset management through automation and real-time visibility.
SkyCell today announced that it has closed its Series D round at USD116 million. Two new investors joined the round. Tybourne Capital Management is a global, growth-oriented, fundamental equity investor in public and private markets. The Hong Kong-headquartered firm was founded in 2012. CCI, an affiliate of Henry Crown and Company, is a Chicago-based holding company for the Crown family. CCI invests, via late-stage venture and growth equity, in businesses focused on environmental sustainability.
The pharmaceutical sector is at a pivotal point as it experiences fast growth as well as increasing costs and pressure to reach CO2 emissions targets. The industry is recognizing the need to decarbonize the supply chain while reducing risk and CO2. To further support pharma customers’ Scope 3 decarbonization efforts, SkyCell will significantly increase its fleet size to offer additional solutions that further reduce CO2 emissions beyond the 50% reduction already achieved compared to the competition.
Bosun Hau, Managing Director at Tybourne comments: “I am delighted to join SkyCell’s board at this significant moment in the Company’s growth. With its lead in hardware as well as software and tracking platform offering SkyCell is well positioned to become the technology partner of choice to the global pharmaceutical industry well beyond its current cold-chain logistics business.”
Richard Ettl, Co-founder and CEO of SkyCell added: “We believe that we have the vision, innovation, talent, and solutions to support pharma companies in their decarbonization journey while upholding the highest standards of cold-chain excellence. This latest funding infusion will play a vital role in accelerating our move toward a more sustainable future.”
(Press release / SK)
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