India, May 20 -- Tan90 Thermal Solutions has raised INR 20 Cr (around $2.3 Mn) in its Series A funding round led by NABVENTURES, a subsidiary of NABARD. The round also saw participation from existing investors Blue Ashva Capital, Capital-A, and 3i Partners.

While NABVENTURES invested around INR 14 Cr in the startup, the remaining amount came from the other investors, a source said.

Tan90 Thermal plans to use the capital to expand its presence across India as well as key global markets like Southeast Asia, the Middle East, and Africa. The funds will also be used to launch new product lines for cold chains, HVACs (Heating, Ventilation, and Air Conditioning), and data centres.

Founded in 2019 by IIT alumni Soumalya Mukherjee, Rajnikant Ra...