Evaluating only Lineage Logistics rival: Coldbox’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
Coldbox founded in Chicago to build on-demand temperature-controlled last-mile delivery.
FUNDING
Raises $12 million to expand refrigerated truck fleet across Midwest markets.
PIVOT
Attempts pivot to B2B grocery wholesale delivery as restaurant margins prove unsustainable.
Coldbox, a temperature-controlled last-mile logistics startup founded in 2016 and headquartered in Chicago, raised $12 million before shutting down in 2020. The company attempted to build an on-demand cold chain network for restaurant and grocery delivery but faced devastating unit economics: diesel refrigeration trucks cost $180,000+ each, fuel expenses ran 40% above projections, and grocery clients demanded pricing that made each delivery unprofitable. COVID-19 supply chain disruptions in March 2020 were the final blow.
Lesson
“Cold chain logistics requires massive asset density before unit economics work—never skip this math.”
Failure anatomy
Collapse type
Bankruptcy
📉 MEDIUM
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