SkyCell Raises $116M to Revolutionize Pharmaceutical Transport with Smart Containers and Decarbonization Efforts

SkyCell Raises $116M to Revolutionize Pharmaceutical Transport with Smart Containers and Decarbonization Efforts
Image credit: SkyCell website 

SkyCell, a Swiss startup specializing in the transport of fragile medicines, has raised $116 million in its Series D funding round. This capital will help the company expand its operations, particularly in Asia and the U.S. The investment includes $59 million from Tybourne Capital Management and CCI, adding to the $57 million previously raised from M&G Investments. This funding round values SkyCell at $635 million, a notable increase from its 2023 valuation.

SkyCell's innovative approach combines hardware and software to ensure the safe transport of medicines. Using "smart containers" powered by machine learning, the company maintains precise temperatures, humidity levels, and vibrations. Its software logistics system, "SkyMind," facilitates global drug transportation. SkyCell’s growth has been driven by the increasing need for secure medicine transport and its success during the Covid-19 pandemic.

Founded in 2012 by Richard Ettl and Nico Ros, SkyCell initially focused on designing storage facilities for a Swiss pharmaceutical giant, later pivoting to transportation containers. Their smart containers have proven ideal for transporting vaccines and other sensitive medical products. Today, SkyCell moves $2.5 billion worth of pharmaceutical products monthly, serving pharmaceutical companies and a network of cargo partners.

SkyCell smart container for transporting vaccines and other sensitive medical products 
Image credit: SkyCell website 

Ettl, SkyCell’s CEO, attributes the company’s success to the growing demand for pharmaceutical products and the industry's push for decarbonization. Pharmaceutical companies, which contribute 4.4% of global emissions, are under pressure to reduce their carbon footprint. SkyCell's containers, which are about half as heavy as competitors’, offer a solution by cutting CO2 emissions by 50%.

SkyCell’s innovations also extend to selling components of its products, such as smart thermometers, to pharmaceutical customers. This diversification aligns with the company’s goal to be a comprehensive technology partner in the pharmaceutical industry. Bosun Hau, MD of Tybourne, highlighted SkyCell’s role in transforming the pharmaceutical logistics industry, which has seen little innovation over the past decades. SkyCell’s combination of hardware, software, and big data analytics positions it as a key player in managing complex global supply chains and ensuring the delivery of life-saving medications.