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June 25, 2024
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SkyCell closes US$116 million Series D

We are excited to share that SkyCell has successfully closed a $116 million Series D funding round. This investment will be used for the continued expansion of SkyCell’s global footprint with a key focus on growth across the Americas, EMEA, and Asia. 

To further support our pharma customers’ Scope 3 decarbonization efforts, we are significantly increasing our fleet size to offer additional solutions that further reduce CO2 emissions beyond the 50% reduction already achieved by our containers compared to the competition. 

The series D funding includes $59 million from the Asia-based global growth investor Tybourne Capital Management, and CC Industries (CCI), the Chicago-based holding company for the Crown family. This follows a $57 million equity investment from Catalyst, M&G Investments’ purpose-led private assets strategy.    

M&G’S CATALYST Strategy Invests $57 Million in SkyCell

SkyCell Welcomes New Investment Partners

We are proud to welcome our new partners/investors and look forward to our continued partnership. Tybourne Capital Management is a global, growth-oriented, fundamental equity investor in public and private markets. The Hong Kong-headquartered firm, founded in 2012, manages long-duration capital on behalf of prominent non-profits, university endowments, sovereigns, corporate pensions and family offices. 

CCI, an affiliate of Henry Crown and Company, is a Chicago-based holding company for the Crown family. CCI invests, via late-stage venture and growth equity, in businesses focused on environmental sustainability. The family enterprise was founded in 1919 by Henry Crown and his brothers.   

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.    

This substantial investment will enable us to further enhance our innovative solutions and solidify our position as a key player in the pharmaceutical logistics sector.  

Bosun Hau, Managing Director at Tybourne Capital Management

“I am delighted to join SkyCell’s board at this significant moment in the Company’s growth. With its lead in hardware as well as software and tracking platform offering SkyCell is well positioned to become the technology partner of choice to the global pharmaceutical industry well beyond its current cold-chain logistics business. Global supply chains are becoming increasingly complex, and managing risk is a board-level issue for nearly every sector – for pharmaceutical companies in particular, it is mission-critical. SkyCell has developed a comprehensive state-of-the-art system combining hardware, software, and big data that is transforming pharmaceutical logistics.

SkyCell: Supporting Sustainable Cold-Chain Excellence  

Every month, SkyCell containers protect more than $2.5 billion of pharmaceutical goods, including millions of doses of vaccines, cancer treatments, diabetes care, and diagnostic solutions for patients around the world.  

Our success in protecting pharma goods is built both on our proprietary cold chain technology as well as our software platform, SkyMind, which streamlines shipment and asset management through automation and real-time visibility. SkyMind allows pharma companies and their suppliers to make better decisions in designing supply chains on the 3 key factors: risk, cost and CO2.   

 The DECARBONIZE tool is a key part of the software suite, enabling clients to predict, track, and report CO2 emissions as well as optimize routes to minimize their carbon footprint. 

Future-Proofing the Supply Chain 

The pharmaceutical sector is at a pivotal point as it experiences fast growth as well as increasing costs and pressure to reach CO2 emissions targets. The industry is recognizing the need to decarbonize the supply chain while reducing risk and CO2 

Dr. Remo Gerber, CFO, SkyCell

“Gaining CCI and Tybourne as investors significantly broadens our footprint in the US and Asia and is a testament to our high growth based on strong financial business fundamentals. Having built the technological foundations in cold chain hardware and software/IoT-enabled tracking, this investment enables us to commercialize our platform into adjacent pharma market segments, significantly expanding our total addressable market beyond cold chain packaging.”

Richard Ettl, co-founder and CEO of SkyCell

“Our reusable 1500X container saves, on average, 50% CO2 or, in absolute terms, 8 tons CO2e per use. This means for a typical pharma customer today we save more than 250,000 tons of CO2 every year without compromising quality. And finally, digitalization is coming to pharma supply chains – moving away from manual worksheets to integrated workflows that leverage S+O data (simulated and operational data) from our proprietary pool of billions of data points. Combined with the power of AI, this enables significant reductions in both cost and risk for our customers. With this new investment, we can further optimize supply chains and create truly sustainable logistics.”

We believe that we have the vision, innovation, talent, and solutions to support pharma companies in their decarbonization journey while upholding the highest standards of cold-chain excellence. This latest funding infusion will play a vital role in accelerating our move toward a more sustainable future. 

As we continue to drive innovation and sustainability in pharmaceutical logistics, we are grateful for the support and partnership of our investors and clients, who share our vision of revolutionizing the healthcare industry. 

Thank you for your continued trust in SkyCell as we pave the way for a more sustainable and efficient future in pharmaceutical logistics. 

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