India: Tan90, a company providing innovative thermal management solutions to businesses, has raised pre-Series A funding of INR 5 Cr led by Blue Ashva Capital. The round also saw participation from 3i Partners, and angel investors Shalini Chhabra and Venkat Nekkanti.
With this latest round of funding, Tan90 aims to expand its reach in India and South East Asia, optimize supply chains for present clients PAN India, increase product offerings and invest in R&D of products aimed at sustainable and green approaches for thermal management across industries. Apart from focussing on reducing the carbon footprint of the cold chain system, Tan90 will be working on industrial cooling and space cooling as well in the next few months.
Based on their propriety cooling technologies, Tan90 has been catering to food industries, pharmaceutical, and diagnostics industries and aims to reach out to thermal management of batteries, industrial cooling, and space cooling as well in the future. Tan90 solutions were showcased in the recently concluded COP26, demonstrating the potential for 1.5 degrees Centigrade compatibility, and the capability to reduce 6.6 MtCO2 emissions per year by 2030.
Tan90 solutions have been recognized for their energy-efficient solutions by various organizations, which include energy bodies like the Bureau of Energy Efficiency, India, UNIDO, Department of Biotechnology, Department of Science and Technology, and GoI.
Commenting on the funding, Soumalya, said “Post the lockdown due to COVID19, the importance of cold chain has had been underlined with the supply chain of all perishables. Businesses are focusing on entering Tier-II cities, but are often impaired by the lack of cost-effective cold chain infrastructure. This further establishes our offerings of cost-effective and energy-efficient cold chain solutions. With our offerings, we provide businesses the flexibility to use any logistics service to transport perishables, which is essential for expanding to Tier-II cities.
Over the past few months, we have seen demands pouring in for both mid-mile and last-mile movements of temperature-sensitive perishables and it has been a great pleasure for us to service major D2C and diagnostic companies across India. With the latest infusion of funds, we are envisioning to expand our presence in major cities, including Mumbai, Hyderabad, Bangalore, and Delhi, which will help us to achieve 10x growth in the upcoming 6 months. Not only in India, but we are also focussing to expand our reach out to the Philippines, and Singapore markets as well.
This investment builds immense confidence within the team to execute at scale.”
Satya Bansal, Founder at Blue Ashva Capital said “Solving for cold chain is a key part of solving last mile logistics, improving end product quality and reducing waste at scale. Therefore, we’re incredibly excited to work with the Tan90 team to deliver energy efficient cold chain solutions that can perform across a wide temperature range and maintain temperature for extended durations.”