Tan90, a startup that offers thermal management solutions to companies, has raised Rs 11.32 crore in a pre-Series A round that was co-led by Blue Ashva Capital and Capital A with the involvement of a number of angel investors from Singapore, the Middle East, India, and 3i Partners.
In May last year, the Chennai-based company raised Rs 5 crore as the first installment of the pre-series A round. 3i Partners, as well as angel investors Venkat Nekkanti and Shalini Chhabra, took part in the May 2022 round.
According to a press release from Tan90, the startup will use the additional funding to increase its operations overseas, with a special emphasis on Southeast Asia. To capitalize on the rising demand for “cold chain solutions” in India’s interior, the startup also has plans to expand into tier-2 cities.
Tan90 has been serving the food, pharmaceutical, and diagnostics industries under the direction of Soumalya Mukherjee. The startup plans to eventually diversify into space cooling, industrial cooling, and thermal management of batteries.
The business is getting ready to introduce a cutting-edge cold chain model called “Cooling as a Service” (CaaS), in which it rents out cooling options to companies that don’t have the blast freezers needed to freeze the panels or thermal batteries. Five cities — Pune, Hyderabad, Delhi, Chennai, and Bangalore — already offer the CaaS. In comparison to reefer trucks, the company asserts that operational costs have been reduced by up to 25%.
Additional claims made by Tan90 include moving more than 1,500 tonnes of produce and reducing carbon emissions by more than 25%. Additionally, it has assisted clients in experiencing a 40% reduction in operational costs. Energy organizations like the Bureau of Energy Efficiency, India, UNIDO, the Department of Biotechnology, and the Department of Science and Technology are some of Tan90’s clients.
