Richard Ettl, co-founder and CEO of SkyCell, said: “At SkyCell, we continue to work on expanding our business network through diversification of funding sources. 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. Therefore, we are delighted to have partnered with SHUAA in this fundraising round and look forward to a productive relationship going forward.”
Founded in Switzerland in 2012, SkyCell designs and manufactures smart containers that allow pharmaceutical companies to predict, reduce, and control the risks associated with transporting temperature-sensitive drugs. Powered by a growing pool of nearly one billion data points on factors including carriers, handlers, airports, outside temperatures, locations, and transit times, SkyCell’s combination of hardware and software innovation delivers an independently-audited market-leading failure rate of less than 0.1 per cent - versus an accepted industry standard between 4 and 12 per cent - while reducing CO2 emissions by almost half.
SHUAA Capital psc
Hani El Abid
Head of Marketing and Communications
Tel: +971 4 3199 723
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About SHUAA Capital psc
SHUAA Capital psc (DFM: SHUAA) is a leading asset management and investment banking platform, with c. USD 14 billion in assets under management. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative and global product offering focused on public and private markets, debt and real estate.
The asset management segment, one of the region’s largest, manages real estate funds and projects, investment portfolios and funds in the regional equities, fixed income and credit markets; it also provides investment solutions to clients, with a focus on alternative investment strategies. The investment banking segment provides corporate finance advisory, transaction services, private placement, public offerings of equity and debt securities, while also creating market liquidity on OTC fixed income products. The firm is regulated as a financial investment company by the Securities and Commodities Authority.
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SkyCell is a purpose-led technology company transforming the pharmaceutical supply chain through a combination of proprietary software, hardware, and big data. It is the leading manufacturer of temperature-controlled door-to-door container solutions that allow pharma companies to optimize their supply chain by reducing, and even predicting, the risks associated with delivering sensitive drugs by air. Its SaaS solution, SkyCell SECURE, enables pharma companies to have real-time, end-to-end oversight of every shipment around the world, and its automated approval capability reduces quality approval time from an average of 14 days to just hours, getting life-changing drugs to consumers faster.
Designed with sustainability as a core principle, SkyCell’s technologies protect healthcare systems by reducing in-transit failure rate to a market-leading low of less than 0.1% temperature excursions and reduce the CO2 impact of each shipment by almost half the average rate. SkyCell is operationally climate-neutral today and has committed to the goal of end-to-end climate neutrality by 2040. SkyCell’s sustainability targets are science led and aligned to both the Paris Agreement and UN sustainable development goals.
Founded in Switzerland in 2012 with a vision to have zero loss in the pharma supply chain, the company has been validated by the majority of the top 20 pharma companies. SkyCell is a leading player in the world in temperature-controlled air freight solutions, in a market currently worth USD 2.8 billion per annum and growing at a rate of 15 to 20%.
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© Press Release 2021