Tan90 Raises ₹20 Cr to Expand Sustainable Cooling Solutions
Tan90 Thermal Solutions, a deep-tech start-up redefining thermal energy management, has raised INR 20 crores in a Series A funding round led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners.
The funds will be used to develop new product lines tailored for cold chains, HVACs, and data centres, and to expand Tan90’s presence in Southeast Asia, the Middle East, and Africa, while continuing to scale across India.
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.
At the core of Tan90’s innovation is its proprietary suite of Phase Change Materials (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, are engineered to deliver 2x turnaround time for clients and a longer cycle life than existing alternatives. PCMs 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. Tan90’s range of PCMs emphasizes inorganic compositions, which are more efficient and inherently safer than their organic counterparts. This makes them particularly suited for sectors such as food and pharma cold chains, HVAC systems, EV thermal management, solar cooling, heat exchangers, and data centre cooling.
Speaking about this, Soumalya Mukherjee, Co-founder of Tan90, said, “Cooling infrastructure must be on-demand, scalable, and sustainable, without relying on heavy capital investments or outdated systems. 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.”
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.”
Tan90 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. Its 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 these funds, Tan90 aims to expand its footprint to 10 additional cities in the coming months, with a particular focus on Tier-2 cities.
