Tan90 Thermal Solutions Raises Rs 20 Crore in Series A Funding

Tan90 Thermal Solutions, a pioneering deep-tech startup, has successfully secured Rs 20 crore ($2.35 million) in a Series A funding round. This funding is spearheaded by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners.

Based in Chennai, the innovative company had earlier raised $4.6 million from Social Alpha and other investors. The funding proceeds are earmarked for the development of new product lines specifically designed for cold chains, HVAC systems, and data centres. Additionally, Tan90 aims to bolster its presence in Southeast Asia, the Middle East, and Africa, while continuing its growth trajectory within India, as stated in a recent press release.

About Tan90 Thermal Solutions

Founded in 2019 by Soumalya Mukherjee, Rajnikant Rai, and Shiv Sharma, Tan90 Thermal Solutions is committed to sustainable thermal energy management. Through its proprietary Phase Change Materials (PCMs) and innovative service models like Cooling as a Service (CaaS), Tan90 assists various industries, including logistics, healthcare, food, agriculture, and manufacturing, in adopting energy-efficient and environmentally friendly cooling solutions.

Innovative Phase Change Materials

Tan90 develops a unique range of Phase Change Materials (PCMs) that operate within a temperature spectrum of –50°C to +80°C. These in-house solutions are designed to enable clients to achieve a 2x faster turnaround time and offer a longer cycle life compared to traditional materials.

Efficiency and Safety of PCMs

The company’s PCM offerings focus on inorganic compositions, known for their superior efficiency and safety compared to organic alternatives. This distinction makes these materials particularly valuable for critical sectors including food and pharmaceutical cold chains, HVAC systems, electric vehicle thermal management, solar cooling applications, heat exchangers, and cooling solutions for data centres.

Impressive Revenue Growth

Tan90 Thermal Solutions has experienced remarkable revenue growth at a compound annual growth rate (CAGR) of over 70% over the last three years. Its Cooling-as-a-Service (CaaS) platform operates in eight cities across India, boasting zero customer churn. This enables businesses within quick commerce, food logistics, and healthcare to implement scalable and climate-resilient cooling solutions without significant upfront capital investment.