Gurugram-based Elanpro (Elan Professionals) has recently invested in New Delhi-based startup Icold Refrigeration, a company specialising in cold storage.
Elanpro has taken a majority stake in the company. With this investment, Elanpro strengthens its business objective and forays into the cold chain storage segment across India.
Additionally, this will allow Elanpro to significantly add value to its business partner and establish themselves as a true comprehensive Refrigeration player in India.
Elanpro has made an investment to not only expand its business outreach in India but also paves way to penetrate its presence in the Middle East market. The new reforms and policies and huge traction of tourism have reshaped the Middle East Market drawing huge attention of foreign investors.
As per UN approx. 40% of food produced in India is wasted and two of the major contributing factors being inadequate cold storage and transportation systems. Elanpro being into a business of Horeca (Hotel/Restaurant/Café) segment, has identified the roadblocks and leaped in investing and acquiring firms showcasing larger impact and potential for growth.
Thus, the corporation has invested in Icold Refrigeration in order to minimise food or other pharmaceutical product loss.