Citrus Freight, a reefer container shipping platform, has secured $300,000 in bridge funding, increasing its total funding to $630,000. The round included investors such as Caret Capital and Indigram Labs Foundation. The funds will enhance the team and upgrade the technology stack, particularly the mobile-first platform.
Established in 2016 by Biplob Barik and Ricky Goyal, Citrus Freight operates within the perishable logistics sector, targeting the agricultural industry. The platform streamlines the booking of refrigerated containers and provides end-to-end logistics solutions, including customs clearance and surface transport. It specializes in managing the logistics of fresh produce.
Citrus Freight's services encompass container booking, customs procedures, and surface transport, supported by customer service. Temperature monitoring and real-time data are employed to maintain the quality of perishable goods during transit. The company supports the export of Indian produce to regions such as Europe, the Middle East, and Southeast Asia, addressing export inefficiencies through an integrated mobile app offering booking, compliance, temperature tracking, and predictive analytics.
The Bengaluru-based company focuses on resolving perishable export challenges for SMEs, providing tools and infrastructure to facilitate global scaling. Citrus Freight claims to have reduced booking times from 72 hours to 10 minutes, aiding clients in minimizing spoilage and expanding market reach by over 40%.
In the coming 12–24 months, Citrus Freight aims to achieve $5.4 million in revenue, targeting the movement of 1,500 containers. Competitors in the sector include Wiz, Cogoport, and Intercont.
Source: ENTracker