Noida-based start-up, Inficold is a manufacturer of cold storage solutions and an independent charity registered in the United Kingdoms. Recently, the start-up has raised funding worth USD 900,000 in its latest Pre-Series A funding round.
The funding amount was raised from RVCF or Rajasthan Venture Capital Fund and other High Net-worth Individual investors.
According to a report by Business Standard, when asked about the latest funding, the company mentioned having utilised these funds to expand its operations including manufacturing of products, its sales and servicing capabilities.
Founded back in 2015 by Nitin Goel and Himanshu Pokharna, Inficold is a global technology leader in efficient and sustainable cold storage and cooling solutions. Their technical products include an off-grid solar integration for cooling purposes and thermal energy storage solutions, according to the company website. The Noida-based start-up offers affordable cooling and storage solutions, a retrofittable thermal energy storage that changes water to ice through pocket-friendly means.
Inficold deals with products that enable thermal storage for cooling water, milk, vaccine cold storage, air conditioning etc. without making any significant modifications in the existing cold storage hardware, as mentioned in a report by Business Standard.
According to sources, the company claims to have its presence in over 17 states in India and with this latest infusion of funds, it plans to expand into more regions and increase its production efficiency by ten times. Other than this, the company is also crossing international borders, leveraging the exposure from international market demands. Inficold has also made few installations of its leading cold storage and thermal solutions technology in Africa.
Commenting on the recent funding, Gaurav Chowdhry, Vice President, Rajasthan Venture Capital Fund says that Inficold is primarily focussing on developing energy-efficient cold chain solutions across the nation and as mentioned have even expanded to international markets as well. The start-up has developed innovative products to cater to a persistent issue of distressed sales and the problem of food wastage. He further added that he is excited to collaborate with Inficold and its founders.
Nitin Goel, Chief Executive Officer and Co-founder, Inficold mentioned in a statement that the start-up is delighted to receive funding from RVCF and other HNIs and the latest funding will boost the company’s aim to enhance the output of Indian agriculture by tapping into the rich potential of cold chain solutions in India.
India is a consistent victim of wasted food due to lack of proper storage facilities, let alone cold storage. Inficold is actively advancing with its technology to minimise this effect and revolutionise the Indian agricultural ecosystem.