SkyCell nabs $59M more for its greener smart pharma transport containers

Although the urgency of the Covid-19 pandemic may have subsided, the necessity for efficient and secure transportation of valuable and delicate medicines and their components worldwide remains crucial. SkyCell has developed innovative hardware and software to enhance this transportation process, claiming to do so in a more environmentally friendly manner. Recently, the company secured significant funding to further expand its operations.

The Swiss startup successfully concluded its Series D funding round at $116 million, with the intention of strengthening its partnerships with companies in Asia and the United States. Tybourne Capital Management and CCI collectively invested $59 million, supplementing the $57 million raised from M&G Investments’ Catalyst last year. Prior to this latest funding round, SkyCell had raised approximately $133 million in total.

The company’s valuation has increased with this latest investment, now standing at $635 million. SkyCell’s journey began back in 2012 in Switzerland, when founders Richard Ettl and Nico Ros were initially developing a storage facility for a Swiss pharmaceutical giant. This project led to the concept of utilizing their technology for transportation containers, thus giving birth to SkyCell.

SkyCell’s innovative system, powered by machine learning and software, is ideal for transporting vaccines that require specific temperature, humidity, and vibration control. The company’s software logistics system, known as “SkyMind,” efficiently transports drugs globally on behalf of pharmaceutical manufacturers.

The demand for secure pharmaceutical transportation has continued to rise, resulting in SkyCell’s 50% annual growth in recent years. The company caters to pharmaceutical companies and a vast network of cargo partners responsible for transporting these essential medical products.

SkyCell now facilitates the movement of approximately $2.5 billion worth of pharmaceutical products and ingredients monthly, including vaccine doses, cancer treatments, diabetes medications, and diagnostic tools.

CEO Ettl attributes the company’s success to the increasing availability of products and the growing global demand for them. Furthermore, the emphasis on decarbonization in the pharmaceutical industry has presented new challenges that SkyCell aims to address.

The company’s lightweight containers contribute to reducing carbon emissions by 50% compared to competitors, aligning with the industry’s commitment to decarbonize supply chains. SkyCell’s innovative approach has positioned it as a key player in promoting environmentally conscious air transportation within the pharmaceutical sector.

In addition to its core products, SkyCell has also ventured into selling components of its solutions to customers, such as smart thermometers developed for its containers. This diversification showcases the company’s adaptability and potential for broader technological partnerships within the pharmaceutical industry.

Bosun Hau, MD of Tybourne, recognizes SkyCell’s potential to revolutionize pharmaceutical logistics with its cutting-edge hardware, software, and data analytics. The company’s comprehensive system addresses the evolving complexities of global supply chains, particularly in the pharmaceutical sector, where efficient logistics are crucial for delivering life-saving medications to patients.