SkyCell raises 32 million Swiss francs

11 October 2021 10:55

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Zug - SkyCell has raised 32 million Swiss francs in fresh capital. A portion of this money came from the United Arab Emirates. SkyCell has developed a smart container for the transportation of temperature-sensitive goods.

The Zug-based start-up SkyCell has raised a total of 32 million Swiss francs as part of a Series C financing round, further details of which can be found in a press release. Investors included, among others, the Abu Dhabi state holding company ADQ and SHUAA Capital psc based in Dubai, while family offices from China and Switzerland were also involved in the process. In addition, the insurance firm Swiss Mobiliar and an unnamed cantonal bank were also among the investors from Switzerland.

SkyCell has developed transport containers for temperature-sensitive goods such as drugs. Thanks to innovative cooling technology, these weigh less than conventional containers and therefore help to save CO2 as well. The SkyCell container is also intelligent in design: it is equipped with sensors that are linked to software based on blockchain technology. In this way, temperature and humidity data can be displayed in real time and made visible to all parties involved.

As the SkyCell containers are well-suited to being used for the transportation of vaccines, the start-up benefitted from the pandemic, founder Richard Ettl explains in the article.

SkyCell unites the latest developments in the fields of software, hardware and Big Data with the aim of revolutionizing logistics chains in the pharmaceutical industry, according to Ajit Joshi, Head of Public & Private Markets at SHUAA Capital. “Given its pioneering approach and the significant potential for value creation, it represents a great fit for SHUAA’s stringent investment criteria”, he comments in a press release.

SkyCell previously concluded a financing round in April 2020, raising 62 million Swiss francs on that occasion. Since then, the company headquartered in Zug has established several new service centers around the world – including in San Francisco and Philadelphia in the USA, as well as in Rome, Toronto, Tokyo, Seoul and the Republic of Ireland.

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