Citrus Freight, described as India's first reefer container shipping platform offering end-to-end solutions for perishable exports, has marked three years of operations with revenue growth and expansion targets. The company reports it has doubled revenue year-on-year and projects a threefold increase in the current year, targeting ₹45 crore (US$5.4 million).
Since its launch, the platform has expanded from 1,000 users in the first month to 30,000 registered users today, with an expected 50,000 by March 2026. The workforce currently includes 25 members, with plans to increase to over 50 in the next 12 months. Citrus Freight works with agribusiness brands including Dehaat, AgroStar, and Shyadari Farms.
The company attributes its growth to demand for faster and more transparent cold chain services in India's fruit and vegetable sector. The platform enables planning, costing, and execution without intermediary delays and provides real-time monitoring of consignments and temperature movements.
In Maharashtra, the perishable logistics industry consists of over 150,000 small-scale agents and around 10 larger 3PL forwarding companies that handle most of the cargo. More than 800,000 reefer consignments move from Nhava Sheva annually, including about 150,000 containers of fruit and vegetables, which are growing at a compound annual rate of 12%. Only about 30% of this volume is currently handled by organized operators. The total industry is valued at US$3.5 billion.
For the 2024-25 financial year, Citrus Freight plans to move 1,500 containers across products including onions, chillies, bananas, grapes, frozen, and packaged foods. The company's two-year plan targets ₹100 crore (US$12 million) in revenue and expansion to ports including Tuticorin, Cochin, and Mundra to handle additional commodities such as eggs, coconuts, organic produce, fish, and meat. Longer-term projections include reaching ₹1,000 crore (US$120 million) in revenue by 2031 with a 22% market share. Team expansion to 150 members is also planned within two years, with a stated focus on AI integration for supply chain management.
"In just three years, we have transformed how perishable exports move out of India by making the cold supply chain faster, more transparent, and digitally accessible. Our 3x growth target this year is just the beginning; our vision is to become a ₹1,000 crore company by 2031 while empowering thousands of exporters to access global markets more efficiently," said Biplob Barik, CEO & Co-founder of Citrus Freight.
The company also targets growth in its B2B app user base to 100,000 within the next two years and one million by 2030-31.
Source: Business News This Week
