NABVENTURES led a Series A funding round for deep tech startup Tan90 Thermal Solutions, which raised Rs 20 crore ($2.35 million) with participation from Blue Ashva Capital, Capital-A, and 3i Partners.
In the past, the Chennai-based business has raised $4.6 million from sources like Social Alpha.
Tan90 stated in a press release that the money will be used to create new product lines for cold chains, HVAC systems, and data centers as well as to increase its footprint in Southeast Asia, the Middle East, and Africa while still growing throughout India.
Soumalya Mukherjee, Rajnikant Rai, and Shiv Sharma co-founded Tan90 Thermal Solutions, a deeptech startup with an emphasis on sustainable thermal energy management, in 2019. Through the use of exclusive Phase Change Materials (PCMs) and service models such as Cooling as a Service (CaaS), it assists sectors including manufacturing, logistics, healthcare, food, and agriculture in implementing climate-friendly, energy-efficient cooling solutions.
Tan90 asserts that its proprietary suite of Phase Change Materials (PCMs), which range in temperature from -50°C to +80°C, was created internally. Compared to current alternatives, these materials are designed to provide clients with a twofold turnaround time and a longer cycle life.
Inorganic compositions, which are more effective and intrinsically safer than their organic counterparts, are the focus of Tan90’s PCM line. Because of this, they are especially well-suited for industries like data center cooling, solar cooling, heat exchangers, EV thermal management, HVAC systems, and cold chains for food and pharmaceuticals.
Over the last three years, Tan90 claims to have increased its revenues at a compound annual growth rate (CAGR) of more than 70%. With zero customer attrition, its Cooling-as-a-Service (CaaS) platform operates in eight Indian cities, allowing companies in fast commerce, food logistics, and healthcare to implement scalable and climate-resilient cooling without having to make significant capital investments.
