Tan90 Thermal Solutions Private Limited: Company Profile

Background

Overview

Tan90 Thermal Solutions Private Limited, established in 2019, is a Chennai-based deep-tech company specializing in sustainable thermal energy management and cold chain solutions. The company focuses on providing energy-efficient and eco-friendly cooling solutions for transporting temperature-sensitive products across various industries, including food, pharmaceuticals, and logistics.

Mission and Vision

Tan90's mission is to revolutionize cold chain logistics by offering innovative, energy-efficient, and sustainable thermal solutions. The company's vision is to become a global leader in providing smart cold storage solutions that ensure the safe and cost-effective transportation of perishable goods.

Primary Area of Focus

The company specializes in developing and deploying Phase Change Materials (PCMs) and insulated storage solutions to maintain precise temperature control during the transportation of perishable goods. This approach aims to reduce dependency on conventional refrigeration systems, offering scalable, energy-efficient, and eco-friendly solutions for cold chain logistics.

Industry Significance

Tan90 plays a crucial role in modernizing the cold chain industry by introducing sustainable and cost-effective alternatives to traditional cooling methods. Its innovative solutions contribute to reducing carbon emissions and operational costs, thereby enhancing the efficiency and sustainability of supply chains across various sectors.

Key Strategic Focus

Core Objectives

Sustainability: Develop and implement eco-friendly cooling solutions to minimize environmental impact.

Innovation: Leverage advanced technologies to create efficient thermal management systems.

Expansion: Increase market presence both domestically and internationally, focusing on underserved regions.

Specific Areas of Specialization

Phase Change Materials (PCMs): Design and manufacture PCMs that provide passive cooling across a wide temperature range, from –50°C to +80°C.

Insulated Storage Solutions: Offer insulated boxes, cold bags, and portable cold storage units tailored for various industries.

Cooling as a Service (CaaS): Provide subscription-based cooling solutions, allowing businesses to access cold chain infrastructure without significant capital investment.

Key Technologies Utilized

Phase Change Materials (PCMs): Utilize proprietary PCMs for efficient thermal energy storage and release.

Modular Insulated Containers: Develop customizable insulated storage units to meet diverse client needs.

Data Analytics: Implement data-driven analytics for monitoring and optimizing cooling performance.

Primary Markets Targeted

Food and Beverage Logistics: Ensure safe transportation of perishable food items.

Pharmaceuticals and Healthcare: Maintain required temperatures for medical supplies and vaccines.

Agriculture and Fisheries: Support the export and distribution of fresh produce and seafood.

Industrial Applications: Provide cooling solutions for data centers and manufacturing processes.

Financials and Funding

Funding History

May 2025: Raised ₹20 crore (~$2.4 million) in a Series A funding round led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners.

May 2023: Secured ₹11.32 crore in a pre-Series A funding round co-led by Blue Ashva Capital and Capital A, with participation from 3i Partners and angel investors.

May 2022: Raised ₹5 crore in a funding round led by Blue Ashva Capital, with participation from 3i Partners and angel investors.

Total Funds Raised

Approximately ₹36.64 crore (~$4.4 million) across multiple funding rounds.

Notable Investors

NABVENTURES: Led the Series A funding round in May 2025.

Blue Ashva Capital: Participated in multiple funding rounds, including the pre-Series A in May 2023 and the Series A in May 2025.

Capital-A: Participated in the pre-Series A in May 2023 and the Series A in May 2025.

3i Partners: Participated in the pre-Series A in May 2023 and the Series A in May 2025.

Utilization of Capital

Product Development: Investing in research and development to expand product offerings, including cold storage solutions, HVAC systems, and data center cooling.

Geographic Expansion: Enhancing market presence in Southeast Asia, the Middle East, and Africa, while scaling operations across India.

Operational Scaling: Strengthening infrastructure and operational capabilities to support growing demand.

Pipeline Development

Key Pipeline Candidates

Cooling as a Service (CaaS) Expansion: Scaling the CaaS model to additional cities and regions, providing flexible and cost-effective cooling solutions.

Product Line Diversification: Developing new products tailored for cold storage, HVAC systems, and data center cooling applications.

Stages of Development

CaaS Expansion: Operational in eight Indian cities, with plans to extend to 10 additional cities, focusing on Tier-2 regions.

Product Development: Ongoing R&D efforts to introduce new product lines and enhance existing offerings.

Target Conditions

Cold Chain Logistics: Ensuring temperature control for perishable goods during transportation.

Industrial Cooling: Providing efficient cooling solutions for data centers and manufacturing processes.

Anticipated Milestones

Short-Term: Launch new product lines and expand CaaS offerings to additional cities.

Medium-Term: Establish a strong presence in Southeast Asia, the Middle East, and Africa.

Long-Term: Achieve operational breakeven and position Tan90 as a global leader in sustainable thermal management solutions.

Technological Platform and Innovation

Proprietary Technologies

Phase Change Materials (PCMs): In-house developed PCMs that provide passive cooling across a wide temperature range, from –50°C to +80°C.

Modular Insulated Containers: Customizable insulated storage units designed for various applications, including food, pharmaceuticals, and industrial sectors.

Significant Scientific Methods

Thermal Energy Storage: Utilizing PCMs for efficient thermal energy storage and release, reducing reliance on conventional refrigeration systems.

Data Analytics: Implementing data-driven analytics for monitoring and optimizing cooling performance, ensuring reliability and efficiency.

Leadership Team

Key Executives

Soumalya Mukherjee: Co-founder and CEO. Holds a PhD from IIT Madras and has extensive experience in thermal management solutions. He led the development of proprietary PCMs and spearheaded the company's expansion into new markets.

Rajnikant Rai: Co-founder and CTO. An IIT Madras alumnus with expertise in material science and thermal technologies. He directed R&D efforts, resulting in innovative thermal solutions and product diversification.

Shiv Sharma: Co-founder and COO. Experienced in operations and scaling deep-tech startups. He managed operational scaling, ensuring efficient delivery of services and customer satisfaction.

Competitor Profile

Market Insights and Dynamics

Market Size and Growth Potential: The global cold chain logistics market is expanding, driven by increasing demand for perishable goods and the need for efficient temperature-controlled transportation.

Industry Trends: A shift towards sustainable and energy-efficient cooling solutions is evident, with companies seeking alternatives to traditional refrigeration methods.

Competitor Analysis

Imprint Energy: Focuses on energy storage solutions, with a different technological emphasis compared to Tan90.

Beacon Power Services: Specializes in energy storage and management, operating in a distinct segment of the energy sector.

Recurve: Provides energy efficiency solutions, not directly competing in the cold chain logistics space.

Strategic Collaborations and Partnerships

Government Collaborations: Partnered with the Department of Horticulture, Government of Tamil Nadu, to implement cold storage solutions for farmers.