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Swarup Bose was no stranger to a chilling reality. In the cold chain business—so goes the irrefutable truth—there is no place for the ones breaking out in a cold sweat. Ironically, a veteran like Bose, who has had over a decade-and-a-half stint in cold chain logistics, was getting fidgety. The 39-year-old was trying his best to mask an uneasy calm. “I had put everything at stake. What I did was not a plain-vanilla risk,” recalls Bose, who started his third venture, Celcius, during the peak of the pandemic in 2020.
The cold-blooded move, interestingly, defied logic. Bose roped in two of his friends, ploughed his savings—Rs50 lakh—and went against the warning and wisdom of his father, his business partner in the first venture of manufacturing cold storage panels for refrigerated vehicles which the duo rolled out in 2004. “I hope you know what you are doing,” his father tried to instill some realism into his son’s maverick business plan. What alarmed the senior professional was the muted success of the first venture which ran for 18 years and a devastating loss in the second venture. In 2015, Bose bought 25 refrigerated vehicles, spotted a yawning gap in cold chain supply, and morphed into a transporter.
The gambit bombed. The loss-making venture ran for three years and shuttered in 2018. Two years later, the legacy manufacturing business too went out of operation due to the pandemic lockdown. “Why are you getting into cold chain again?” an anxious father was trying to make sense of a blatantly implausible move. “You are 39, dipping into all your savings, and have badly timed your new innings,” his father pointed out all the possible red flags. The son, though, was adamant. The cold supply-chain segment, he argued, was broken and badly needed a tech makeover. The country, Bose reckoned, needed a tech platform where the cold supply chain could converge, interact, track, trace, and use IoT (Internet of Things) devices. “Celcius is the answer,” he maintained and rolled out the venture amid a raging pandemic in August 2020.
Four months into the new venture, Bose was scouring around for answers. The questions, interestingly, were tough. “Are you guys transporters or warehouse owners?” were the first questions from baffled potential users who couldn’t make any sense of the tech platform, which was pegged as India’s first cold chain marketplace. “We kept explaining that we are providing technology, and they keep insisting that they want solutions, and not technology,” recalls Bose. For the first five months, Celcius didn’t make a single rupee.