Fundalogical Ventures (FLV), an early-stage venture capital firm, announced its first investment in Indicold, a technology-driven cold supply chain company.
The investment amount was not disclosed but will be used for tech development, geographic expansion, and team building.
FLV is backed by prominent investors like Mr. Krishna Kotak (JM Baxi Group Chairman), Mr. Tushar Jani (Blue Dart Founder), and Mr. Mehernosh Currawalla (FAK Cargo Dynamics). The fund invests ₹20-80 Crore in innovative early-growth companies across various sectors.
About Indicold
Founded in 2019 by Kartik Jalan and Niharika Jalan, Indicold offers cold warehousing, refrigerated transportation, and value-added services, essentially providing a farm-to-fork and manufacturing-to-consumer cold chain solution.
The company leverages automation, AI, and machine learning for sustainable cold chain management in food, pharmaceuticals, and other sectors.
Indicold is establishing India’s first frozen Automatic Storage and Retrieval System (ASRS) High Bay Warehouse with over 7,000 pallets in Gujarat, aiming to set new benchmarks in automation and supply chain solutions.
The company plans to expand its presence across states and cater to clients from various industries. Notably, Indicold has achieved 3x year-on-year growth in the past 12 months.
Niharika Jalan, Co-founder CGO, Indicold, says,
“We are excited to partner with Fundalogical Ventures in our journey going forward. The ethos of both Indicold and Fundalogical are growth, innovation and sustainability.”
Kartik Jalan, Co-founder CEO, Indicold, adds,
“Indicold is implementing state of the art automation in cold chain leveraging Deep Tech, AI, and ML with emphasis on sustainability. Our partnership with Fundalogical will accelerate our efforts in this direction.”
About Fundalogical Ventures
FLV focuses on early-growth companies in supply chain, logistics, and related sectors like consumer-driven businesses. The VC firm invests ₹20-80 Crore per company and offers a unique model that combines the sponsors’ business-building expertise with the financial acumen of its investment team.
FLV aims to build a portfolio of 10-15 companies and provide them with access to its network and specialists.
Ratna Mehta, CEO and Managing Partner at FLV, leads the fund’s investment management. Fundalogical Ventures is backed by seasoned entrepreneurs and veterans from the financial services industry.
Commenting on the investment, Mr. Tushar Jani, Sponsor, Fundalogical Ventures,
“With the country’s rapidly expanding demand for efficient cold logistics solutions, we see immense potential for growth in this sector. With huge losses in storage and transportation of temperature-controlled food supply chains, Indicold’s visionary founders and innovative operations will bring value-added propositions to their customers.”
Ratna Mehta, CEO & Managing Partner, Fundalogical Ventures says,
“We believe that the next decade is going to see a lot of innovation in the supply chain space to support the consumption and manufacturing growth in India. We are excited to partner with Indicold which is building a disruptive platform for cold supply chain solutions.”
