The SkyCell team is developing containers that monitor the condition inside SkyCell
The Zurich startup Skycell has raised the equivalent of 54 million euros (57 million US dollars) from British asset manager M&G Investments. This brings total funding to $185 million, the company said. The lead investor previously invested in companies such as Climeworks and Nuclera, among others.
Skycellās goal: to make the supply chain for temperature-sensitive drugs or vaccines more sustainable. Since launching in 2012, the Swiss startup has been developing special containers that monitor the condition of the transported medication, such as the temperature, in order to minimize possible damage. This reduces the amount of waste that would otherwise be generated.
Skycell wants to save CO2 in the pharmaceutical industry
The startup wants to make the pharmaceutical industry greener. According to CEO Richard Ettl, this industry emits huge amounts of CO2. Skycell therefore offers software that helps companies plan and reduce their CO2 emissions. Their containers are therefore particularly light, which is also intended to reduce CO2 emissions during transport.
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According to the makers, it became clear how useful these containers were, especially during the COVID-19 crisis. Suppliers used them to send temperature-sensitive vaccines around the globe.
The startup generates revenue by providing hardware, software and services and said it reached breakeven in 2023, according to Ettl. Skycell said it works with āthe majority of the top 20 pharmaceutical companies,ā such as Techcrunch previously reported.
The new round of financing will enable the company to accelerate the growth of its global service center, enabling customers to receive deliveries within 24 hours at their global production facilities.
Here you can see the eleven-page pitch deck of the pharmaceutical startup: