SkyCell, a Swiss-based pharmaceutical technology company, has closed a $116 million Series D funding round. The investment will be used to expand SkyCell’s global footprint, with a focus on growth in the US and Asia.
SkyCell combines IP-protected, temperature-controlled containers, software, and big data analytics to secure the pharmaceutical supply chain. Every month, SkyCell containers are used to protect more than USD 2.5 billion of pharmaceutical products, including hundreds of millions of doses of vaccines, cancer drugs, diabetes medications, and diagnostic solutions for patients around the world.
The company’s platform, SkyMind, streamlines shipping and asset management through automation and real-time visibility using three key elements: risk, cost and CO2. The DECARBONIZE tool is part of a software suite that enables customers to forecast, track and report on CO2 emissions, as well as optimise routes to minimise their carbon footprint.
SkyCell co-founder and CEO Richard Ettle said: “It’s an exciting time to be involved in pharma as a technology provider, as the industry is experiencing rapid growth with new blockbuster biologics coming to market. At the same time, the industry is conscious of the need to decarbonise the supply chain, with over 70% of pharmaceutical products transported one way and charges on disposal soon to be introduced.”
“Our reusable 1500X containers reduce CO2 by 50% on average – in absolute terms, 8 tonnes of CO2e per use. For a typical pharma customer today, this means more than 250,000 tonnes of CO2e can be saved each year, without compromising quality. And finally, the pharma supply chain is becoming increasingly digitalised, moving from manual worksheets to integrated workflows that leverage S+O data (simulation and operational data) from our unique pool of billions of data points. Combined with the power of AI, this allows us to significantly reduce both costs and risks for our customers. This new investment will enable us to further optimise our supply chain and enable truly sustainable logistics.”
Bosun Howe, Managing Director and Head of Private Equity at Tyborne Capital Management, said: “We are delighted to join SkyCell’s board at this important time for the company’s growth. As a leading provider of hardware, software and tracking platforms, SkyCell is well positioned to go far beyond its current cold chain logistics business and become the technology partner of choice for the global pharmaceutical industry.”
“Global supply chains are becoming increasingly complex and risk management is a board-level issue for almost every sector. For pharmaceutical companies in particular, getting life-saving medicines into the hands of patients is crucial. SkyCell has developed a cutting-edge integrated system that combines hardware, software and big data analytics to transform an industry that has seen little innovation in the past few decades.”
