TESSOL Raises INR 7.5 Crore From Mela Ventures The fund raised will be utilized for geographical expansion, capacity building, team building and application development
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TESSOL, a cold chain solution provider, has raised INR 7.5 crore from Mela Ventures. The funding round also witnessed the participation from existing investors 1crowdAngels and 1Fund. The fund raised will be utilized for geographical expansion, capacity building, team building and application development.
"The pandemic has led to a sudden increase in the demand for food and pharmaceutical last-mile cold chain globally. We think this is the most opportune time to invest in scaling our solutions globally and planning our foray into new application areas. We shall be investing in further enhancing our internal R&D and application engineering capabilities along with building the foundation to be a global category leader in this space," said Rajat Gupta, founder and CEO, TESSOL.
The company has emerged as the trusted solution provider for leading e-commerce and quick-commerce brands, helping them effectively move perishable products in the mid and last-mile. It is also strategizing consciously to ensure its solutions are environmental-friendly, thereby reducing carbon footprints and greenhouse emissions, claimed by the company in a statement.
"TESSOL's range of products, backed by years of research, have delivered proven results to over 100 customers across the cold chain, including the fast-growing last-mile segment players. TESSOL displays all the characteristics of a global category leader, and we are excited to be partnering with the TESSOL team as they take the organization to the next level," said Krishnakumar Natarajan, managing partner, Mela Ventures.
TESSOL, taking sustainable growth and development into account, is revolutionizing the business with its flagship product such as Indiwrap. The company also offers a wide range of solutions for the pharmaceutical, chilled and frozen foods sector.