Tan90, a company providing innovative thermal management solutions to businesses, has raised Rs 5 crore in pre-Series A funding led by Blue Ashva Capital, and 3i Partners
The round also saw participation from 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.
Speaking on the fundraise, Soumalya Mukherjee, Founder of Tan90, 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 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.”
“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,” Mukherjee added.
Commenting on the investment round, 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.”