Wednesday, July 3, 2024
On June 25, 2024, SkyCell, a Swiss startup in pharmaceutical logistics, closed out its Series D funding at $116 million. The funding includes $59 million from Tybourne Capital Management and CCI, along with an additional $57 million in equity investment from M&G Investments’ Catalyst. This funding will be used to expand SkyCell’s global operations, with a particular focus on growth in the Asia and U.S. markets.
With approximately $35 billion worth of medicine losses annually due to temperature deviation during transportation, SkyCell has developed an integrated approach to protecting the pharmaceutical supply chain through both hardware and software innovations.
SkyCell has designed IP-protected hybrid containers which maintain strict temperatures and humidity levels and absorb vibrations during transportation. The hybrid container has an average runtime of 270 hours and can self-charge automatically when placed in a cool environment, including cold chambers and reefer trucks. These capabilities are important for safely shipping life-saving, temperature-sensitive pharmaceuticals such as vaccine doses, cancer medications and diabetes drugs.
In terms of software, SkyCell has developed “SkyMind”, a software logistics system equipped with Internet of Things (IoT) sensors. This system allows clients to monitor shipment temperature and geolocation in real time. It also allows them to predict, track, and report CO2 emissions as well as plan routes to maximize sustainability and reduce carbon footprint.
The pharmaceutical industry now faces significant challenges with its increasing carbon footprint, largely due to the energy-intensive nature of traditional cold chain containers. SkyCell’s hybrid solution helps pharmaceutical companies and suppliers make informed decisions regarding risk, cost management, and CO2 emissions in supply chain management.
Author: Tyler Wang, 2024 Summer Student
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