Latest news with #SoumalyaMukherjee
The Hindu
20-05-2025
- Business
- The Hindu
Chennai-based Tan90 Thermal Solutions raises ₹20 crore in Series A
Chennai-based Tan90 Thermal Solutions, a deep-tech start-up focused on sustainable thermal energy management, has raised ₹20 crore in a Series A funding round led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners. Using proprietary Phase Change Materials (PCMs) and service models like Cooling as a Service (CaaS), Tan90 helps industries across logistics, healthcare, food, agriculture, and manufacturing adopt energy-efficient, climate-friendly cooling solutions. The firm works with clients like Zomato Hyperpure, Swiggy Instamart and Blinkit among others. Soumalya Mukherjee, co-founder of Tan90, told The Hindu over phone that the start-up aims to expand its footprint to 10 additional cities in the coming months, with a particular focus on Tier-2 cities. 'We are looking at markets like Jaipur, Coimbatore, Mohali and Kochi,' he said. The firm is expanding its footprint in Southeast Asia, the Middle East, and Africa. A part of the funds will be used to develop new product lines tailored for cold chains, HVACs, and data centres. All three co-founders — Soumalya Mukherjee, the Chief Executive Officer; Shiv Sharma, the Chief Operating Officer; and Rajani Kant Rai, the Chief Business Officer — completed their PhDs at IIT-Madras. 'We were supported by IIT-M during our initial stage. Then we moved out of campus and set up our own manufacturing unit in Chennai. We have manufacturing units in Chennai (5,000 sq ft), Mumbai (10,000 sq ft) and Delhi. We make PCMs,' Mr. Mukherjee said. Tan90's innovation is its proprietary suite of PCMs developed in-house, spanning a temperature range from –50°C to +80°C. These materials, which have been granted and filed for multiple patents, function by storing thermal energy in the form of latent heat or hydration energy, allowing them to act as efficient heat sinks or maintain products within a narrow and controlled temperature range. Cooling accounts for nearly 10% of global CO₂ emissions, according to the International Energy Agency (IEA), making the need for sustainable alternatives both urgent and economically significant. Vikas Bhatt, Managing Director, NABVENTURES, said, 'Tan90 is driving the next phase of thermal innovation that has the potential to redefine cold chain infrastructure, particularly for agriculture and allied sectors.' NABVENTURES Limited is a wholly-owned subsidiary of NABARD, incorporated as a public company in April 2018 to manage alternative investment funds. The firm invests in agriculture, food, and rural development sectors across India.
Entrepreneur
20-05-2025
- Business
- Entrepreneur
Tan90 Thermal Solutions Raises INR 20 Cr Series A Led by NABVENTURES
With these funds, Tan90 aims to expand its footprint to 10 additional cities in the coming months, with a particular focus on Tier-II cities. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tan90 Thermal Solutions, a Chennai-based deep-tech startup focused on sustainable thermal energy management, has raised INR 20 crore in a Series A funding round led by NABVENTURES. The round also saw participation from Blue Ashva Capital, Capital-A, and 3i Partners. The fresh infusion of capital follows Tan90's earlier raise of USD 4.6 million from Social Alpha and other investors. The funds will be strategically deployed to develop new product lines targeted at cold chains, HVAC systems, and data centres. Additionally, Tan90 plans to expand its presence to 10 more Indian cities—particularly Tier-II cities—while establishing a footprint in Southeast Asia, the Middle East, and Africa. "Cooling infrastructure must be on-demand, scalable, and sustainable, without relying on heavy capital investments or outdated systems," said Soumalya Mukherjee, Co-founder of Tan90. "With this funding, we are accelerating our efforts to expand into new industries and markets and build future-ready cooling solutions. We aim to position India as a centre for innovative thermal management while creating globally relevant cooling ecosystems." Founded in January 2019 by three PhD graduates—Soumalya Mukherjee, Rajani Kant Rai, and Shiv Sharma—Tan90 Thermal Solutions offers a range of climate-resilient, energy-efficient thermal management products. The company's proprietary Phase Change Materials (PCMs), developed in-house and covering temperatures from –50°C to +80°C, are at the core of its offerings. These PCMs enable passive cooling by storing latent heat, offering longer cycle lives and double the turnaround time compared to existing alternatives. Tan90's product suite includes: Phase Change Materials (PCMs): For passive cooling in cold chains, logistics, and data centres. For passive cooling in cold chains, logistics, and data centres. Portable Cold Storage Solutions: Insulated containers for maintaining temperatures during transport of perishables. Insulated containers for maintaining temperatures during transport of perishables. Customised Thermal Solutions: Tailored cooling systems for varied industrial needs. Tailored cooling systems for varied industrial needs. Cooling-as-a-Service (CaaS): A capital-light service model active in eight cities, with zero customer churn, helping clients in quick commerce, food logistics, and healthcare. "Tan90 is driving the next phase of thermal innovation with scalable, efficient solutions that align with our mission to enable climate resilience and improve logistics," said Vikas Bhatt, Managing Director, NABVENTURES. Operating near breakeven and posting over 70% CAGR in the past three years, Tan90 is poised to lead India's charge in building innovative, globally scalable thermal energy ecosystems.
