BODIPY‐based donor‐acceptor dyads are widely used as sensors and probes in life science. Thus, their biophysical properties are well established in solution, while their photophysical properties in cellulo , i. e., in the environment, in which the dyes are designed to function, are generally understood less. To address this issue, we present a sub‐ns time‐resolved transient absorption study of the excited‐state dynamics of a BODIPY‐perylene dyad designed as a twisted intramolecular charge transfer (TICT) probe of the local viscosity in live cells.