Tan90 Raises INR 11.32 Crore In Pre-Series A Funding The company said that it is planning to enter tier-2 cities in India to cash in on the growing demand for 'cold chain solutions' in the interior parts of the country

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Tan90, a cooling solutions company, has raised INR 11.32 crore in pre- Series A investment round co-led by Blue Ashva Capital and Capital A, along with participation from 3i Partners and a clutch of angel investors based out of Singapore, the Middle East, and India. The fund raised will be utilized to expand overseas with a particular focus on Southeast Asia.

"We are delighted to have secured this funding, which will support our expansion and enable us to introduce an innovative CaaS model to a wider audience. We hope to create a substantial impact in this space by expanding our footprint in major cities like Mumbai, Kolkata, Kochi and Visakhapatnam in the coming quarter. We are confident in our capabilities to transform the cold chain industry and deliver sustainable and cost-effective solutions. Above all, we are grateful to our investors for their continued support," said Soumalya Mukherjee, co-founder, Tan90.

Tan90 is planning to enter tier-2 cities in India to cash in on the growing demand for 'cold chain solutions' in the interior parts of the country. It also plans to launch a cold chain model, 'Cooling as a Service' (CaaS), where it offers cooling solutions on lease to businesses that do not own blast freezers required to freeze the panels, i.e., thermal batteries, according to an official statement by the company.

"We have strong faith in the India growth story as it is a vast economy which is going to record above 6% growth in all likelihood this fiscal year. Naturally, there would be tremendous growth for the cooling solutions business as well, since it has strong linkages with the food, pharma, energy, logistics and transport sectors. Our second round of investment in the company signifies our continued faith in its business strategy and growth prospects," said investment, Satya Bansal, founder, Blue Ashva Capital.

Founded in January 2019 by Soumalya Mukherjee, Rajani Kant Rai, and Shiv Sharma, Tan90 is solving the problem of energy-efficient thermal management across industries.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

How to Determine the Right Pricing Strategy for Your Small Business

Discover how small businesses can navigate the challenging terrain of pricing strategy in a post-inflation economy.

Leadership

5 Trailblazing Black Women Entrepreneurs Share How They're Breaking Barriers — And How You Can Too

52,374. That's how many Black women-owned businesses there were in the U.S. in 2020. Although this number might seem insignificant, their impact can be felt. According to J.P. Morgan, Black women are the fastest-growing group of entrepreneurs, and there's no end in sight.

Business News

7 Shocking AI Trends for 2024 That Will Leave You Speechless

Make sure these trends are on your radar.

Business News

Tennessee Just Passed a New Law to Protect Musicians From a Growing AI Threat — And Even Taylor Swift Has Been a Victim

Tennessee is the first U.S. state to pass legislation protecting music industry professionals.

Cryptocurrency / Blockchain

With Bitcoin Reaching New Heights, What Is Next for Crypto?

It's clear the crypto industry feeds off its successes, but with a more stable foundation, the industry can better insulate itself from the volatility that has plagued it for so long and finally enjoy long-term sustainability.