Tan90 Raises Rs 20 Cr In Series A Round Led By NABVENTURES

Deep-tech startup Tan90 Thermal Solutions has raised Rs 20 crore ($2.35 million) in a Series A funding round led by NABVENTURES.

The round also saw participation from Blue Ashva Capital, Capital-A, and 3i Partners.

The fresh funds will help develop new products for cold storage, HVAC systems and data centers, and also support expansion into Southeast Asia, the Middle East and Africa.

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Soumalya Mukherjee, Co-founder of Tan90, said, “Cooling infrastructure must be on-demand, scalable, and sustainable, without heavy capital investments or outdated systems. This funding accelerates our efforts to expand into new industries and markets, building future-ready cooling solutions. We aim to position India as a centre for innovative thermal management and create globally relevant cooling ecosystems.”

Vikas Bhatt, Managing Director of NABVENTURES, said, “Tan90’s scalable and efficient thermal innovations have the potential to transform cold chain infrastructure, especially in agriculture and allied sectors. Their solutions align with our goal to support climate-resilient technologies that add value to rural economies.”

About Tan90 Thermal Solutions

Founded in 2019 by Soumalya Mukherjee, Rajnikant Rai and Shiv Sharma, Tan90 Thermal Solutions is a deeptech startup that focuses on eco-friendly thermal energy management. It uses special materials called Phase Change Materials (PCMs) and offers services like Cooling as a Service (CaaS) to help industries like logistics, healthcare, food, agriculture, and manufacturing use energy-saving and climate-friendly cooling solutions.

Tan90’s PCMs, made in-house, work in temperatures from –50°C to +80°C. These materials help clients get twice the turnaround time and last longer than other options.

Their PCMs mainly use inorganic materials, which are safer and more efficient than organic ones. This makes them ideal for areas like food and pharma cold chains, HVAC systems, electric vehicle cooling, solar cooling, heat exchangers, and data center cooling.

Tan90 says it has grown its revenue by over 70% each year for the past three years. Its Cooling-as-a-Service platform operates in eight Indian cities with no customers leaving. This helps businesses in quick commerce, food logistics, and healthcare get reliable, scalable cooling without large upfront costs.

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