Tan90, a Thermal Management Company for energy-efficient thermal solutions for businesses, has raised Rs 5 crore in its pre-Series A funding round from Blue Ashva Capital.
3i Partners, and angel investors Shalini Chhabra and Venkat Nekkanti also participated in this round.
With this fundraising, the startup aims to expand its reach in India and Southeast Asia, optimize supply chains for existing customers, enhance product offerings and aim for a sustainable and green approach to thermal management across industries.
Apart from focusing on reducing the carbon footprint of cold chain systems, the company will also work on industrial cooling and space cooling over the next few months.
“Post the lockdown due to Covid19, the importance of cold chain has had been underlined with the supply chain of all perishables. Businesses are focussing 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”, said, Soumalya Mukherjee, cofounder of Tan90.
The Chennai-based Tan90 was founded in 2019 by Shiv Sharma, Rajnikant Rai, and Dr. Soumalya Mukherjee, It provides portable cold storage that simplifies the transportation of temperature-controlled products from farm to fork.
The startup is catering to the food industries, pharmaceutical, and diagnostics industries and aims to reach thermal management of batteries, industrial cooling, and space cooling in the future.
“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”, said, Satya Bansal, founder of Blue Ashva Capital.
The company’s solutions have been recognized by energy bodies such as the Bureau of Energy Efficiency, India, United Nations Industrial Development Organization (UNIDO), Department of Biotechnology, Department of Science and Technology, and the Government of India.
Portable cold storage that simplifies the transportation of temperature-controlled products from the Farm to the Fork
They started their journey in 2019, with a simple aim: to reach out to farmers with cost-effective and energy-efficient cold storage solutions. Back then, They had only one product: a 40-liter portable cold storage that can transport milk sachets. They piloted with several customers spread across Tamil Nadu and had been working closely with them. Along with their journey, they realized the importance of the cold chain for vegetables, fruits, meat, and fish.
They went back to Their customers and heard them out. They found out that they have been relying on age-old methods that included gel packs, ice, expensive reefer trucks, and rudimentary iceboxes. They were not happy! They applied their engineering mindset and came out with thermal solutions curated to the needs of our users. Today, They have a portfolio of 6 products designed specifically for different perishables.