Dubai - Mubasher: The managed funds of Shuaa Capital have invested in the concluded CHF 32 million ($34.8 million) Series C funding round by SkyCell, the Swiss pharma-tech supply chain disruptor.
Shuaa's investment is part of SkyCell's latest funding round, which aims to support the company's continued growth and expansion, including in the Middle East, according to a press release on Monday.
Established in Switzerland in 2012, SkyCell manufactures smart containers to ensure the safe transportation of pharmaceutical drugs, namely temperature-sensitive drugs.
The Managing Director and Head of Public and Private Markets at Shuaa Capital, Ajit Joshi, said: "SkyCell is an exciting disruptor in the pharmaceutical supply chain, bringing together the latest in software, hardware, and big data in order to transform this specialised logistics space."
Meanwhile, the Co-founder and CEO of SkyCell, Richard Ettl, commented: "This investment will contribute to raising the efficiency of our services and targeting new markets in the region and in SHUAA, we have found an investor aligned with our vision and ambitions."
