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October 11, 2021

SkyCell raises $35M investment to drive future growth

This investment consolidates SkyCell’s position in strategically important Middle and Far East regions, setting the stage for a new phase of growth capitalizing on surging global demand for safe, secure, and sustainable pharma cold-chain solutions.

We diversified our investor base and gained further access to the Middle and Far East regions, to extend our reach, and support the growth of our client network. SkyCell is delighted to have found fantastic long-term partners in both regions.

DisruptAD, ADQ’s venture platform, and SHUAA Capital, the UAE-based asset management and investment banking firm, will provide an unparalleled access into their local and international portfolio. With two-thirds of the world’s human footprint – including much of the developing global South – within a four-hour flight time, Abu Dhabi is of strategic significance for the global pharma supply chain and for us.

Additional investment from Swiss-based and China-based family offices with strategically important ties to the logistics industry, will further bolster our client acquisition campaigns. Existing investor, Mobiliar, also participated with follow-on funding. This was rounded off by debt facility provided by a leading Swiss cantonal bank.

Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital:

“At SHUAA, we invest in pioneering and innovative companies, especially in vital sectors that have a significant impact on society, and that at the same time generate meaningful returns for our shareholders. SkyCell is one such business, using technology to transform the pharmaceutical supply chain, and we are excited about its growth potential in the coming years, given the importance of its role in designing and manufacturing advanced and safe drug containers.”

The investing follows a year of significant growth for SkyCell. Alongside increased year on year revenues, we have responded to the rapidly changing industry through driving our own rapid product innovation. This includes a container capable of transporting pharma products requiring deep-frozen transit (including BioNTech and Pfizer Covid-19 vaccines, among others). In the second quarter of 2021, we launched our SaaS solution, SECURE, that provides pharma companies with end-to-end oversight of every shipment around the world and an automated approval capability that reduces quality approval time to just minutes.

Richard Ettl, Co-Founder and CEO of SkyCell

“This successful round of funding will enable SkyCell to further improve the experience we offer our clients, further differentiate our hardware and SaaS offerings based on their needs and become their distribution solution of choice for cold chain.”

Since its previous funding round in 2020, SkyCell has increased its headcount by 45 per cent and significantly increased its on-the-ground global presence with the opening of service centers in new locations, including San Francisco, Philadelphia, Seoul, Rome, Toronto, Tokyo, and Ireland. We have signed new partnership agreements with eight airlines, including Qatar, Saudia Cargo, KLM Airfrance Martinair Cargo, Korean Air, LOT, Virgin Atlantic, JAL, and All Nippon Airways, as well as logistics partners such as DB Schenker and DSV. These partnerships have driven a significant increase in SkyCell’s reach, especially between Europe and the APAC and LATAM regions.

Jean-Marc Le Calvez, Managing Partner at Globaleye Capital:

“We are thrilled to have partnered with SkyCell. Our teamwork resulted in the onboarding of new strategic investors, each of which will play an essential role in SkyCell’s future - becoming the partner of choice for global cold-chain pharma.”

The current funding allows SkyCell to continue to make strategic investments and drive innovative product developments, to ensure that we can continuously offer our clients an advanced hardware fleet, software solutions, and worldwide operations and support.

We are looking forward to cementing SkyCell at the heart of the global cold-chain flows and being internationally recognized as an industry innovation leader.

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