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
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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.