NABVENTURES leads Rs 20 Cr round in deep-tech startup Tan90

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Deep-tech startup Tan90 Thermal Solutions has raised Rs 20 crore ($2.35 million) in a Series A funding round led by NABVENTURES along with participation from Blue Ashva Capital, Capital-A, and 3i Partners. The Chennai-based company had previously raised $4.6 million from Social Alpha and others. The proceeds will be used 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, Tan90 said in a press release. Co-founded in 2019 by Soumalya Mukherjee, Rajnikant Rai, and Shiv Sharma, Tan90 Thermal Solutions is a deep-tech startup that focuses on sustainable thermal energy management. Using proprietary Phase Change Materials (PCMs) and service models like Cooling as a Service (CaaS), it helps industries across logistics, healthcare, food, agriculture, and manufacturing adopt energy-efficient, climate-friendly cooling solutions. Tan90 claims that its proprietary suite of Phase Change Materials (PCMs) developed in-house, spanning a temperature range from –50°C to +80°C. These materials are engineered to deliver 2x turnaround time for clients and a longer cycle life than existing alternatives. 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. Tan90 claims to have grown its revenues at a CAGR of over 70% during the past three years. 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.