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.
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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"Cooling infrastructure must be on-demand, scalable, and sustainable, without relying on heavy capital investments or outdated systems," said Soumalya Mukherjee, Co-founder of Tan90.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.
- Portable Cold Storage Solutions: Insulated containers for maintaining temperatures during transport of perishables.
- Customised Thermal Solutions: 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.
