Tan90 has secured Rs 5 crore in a pre-Series A funding round led by Blue Ashva Capital. Among other things, Tan90 aims to expand its reach in India and South East Asia, the startup will use the money to expand its reach in the field of thermal management.
Tan90, a startup that provides innovative thermal management solutions to enterprises, has secured Rs 5 crore in pre-Series A investment led by Blue Ashva Capital. 3i Partners and angel investors Shalini Chhabra and Venkat Nekkanti also participated in the round.
Tan90 intends to use this second amount of investment to extend its footprint in India and South East Asia, improve supply chains for existing clients across India, expand product offerings, and invest in R&D of technologies focused at sustainable and green methods to thermal management across sectors. Tan90 will focus on industrial cooling and space cooling in the next months, in addition to decreasing the carbon footprint of the cold chain system.
Tan90 has been catering to the food, pharmaceutical, and diagnostics sectors based on their proprietary cooling methods, and they hope to expand into thermal management of batteries, industrial cooling, and space cooling in the future. Tan90 technologies were on display at the recently ended COP26, proving the possibility for 1.5 degrees Celsius compatibility and the capacity to decrease 6.6 MtCO2 emissions per year by 2030.
Soumalya Mukherjee, cofounder of Tan90, stated, “Post the shutdown due to Covid19, the necessity of cold chain has been reinforced with the supply chain of all perishables.
Businesses are focusing on Tier-II cities, but they are sometimes hampered by a lack of cost-effective cold chain infrastructure. This strengthens our portfolio of low-cost, energy-efficient cold chain solutions. With our products, we provide businesses the freedom to utilize any logistics service to carry perishables, which is critical when growing into Tier II cities.”
Founder of Blue Ashva Capital, Satya Bansal, added, “Tackling for cold chain is a vital aspect of solving last mile logistics, enhancing final product quality, and decreasing waste at scale. As a result, we’re ecstatic to collaborate with the Tan90 team to develop energy-efficient cold chain solutions that can operate over a wide temperature range and sustain temperature for extended periods of time.”