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Tan90 Thermal Solutions, a deeptech startup redefining thermal energy management, has raised Rs 20 crore in a Series A funding round led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners.
The startup plans to use the raised capital to develop new product lines tailored for cold chains, HVACs, and data centres, and to expand its presence in Southeast Asia, the Middle East, and Africa, while continuing to scale across India.
What does Tan90 do?
Tan90 Thermal Solutions is a Chennai-based deeptech startup focused on sustainable thermal energy management. Using proprietary Phase Change Materials (PCMs) and service models like Cooling as a Service (CaaS), the startup helps industries across logistics, healthcare, food, agriculture, and manufacturing adopt energy-efficient, climate-friendly cooling solutions.
“Cooling infrastructure must be on-demand, scalable, and sustainable, without relying on heavy capital investments or outdated systems,” said Soumalya Mukherjee, Co-founder of Tan90.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 thank our investors for their trust and support as we take this next step. We aim to position India as a centre for innovative thermal management while creating globally relevant cooling ecosystems that industries can rely on,” Mukherjee added.
Market presence
Tan90 claims that it has grown its revenues at a CAGR of over 70% during the past three years and is now operating close to breakeven, with significantly lower burn compared to the previous year.
The startup’s Cooling-as-a-Service (CaaS) platform is active in eight Indian cities, with zero customer churn, enabling businesses in quick commerce, food logistics, and healthcare to adopt scalable and climate-resilient cooling without major capital outlay.
With the latest, it aims to expand its footprint to 10 additional cities in the coming months, with a particular focus on Tier-2 cities.
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. Their scalable and efficient solutions align perfectly with our mission to support technologies that enable climate resilience, improve logistics, and create value for farmers and rural economies.”
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