TESSOL provides cold-chain solutions and a flagship product, Indiwrap, serving the pharmaceutical, chilled and frozen foods sectors as well as e-commerce and quick-commerce last-mile players. The company says its products have delivered proven results to over 100 customers across the cold chain. TESSOL emphasizes sustainability, aiming to reduce carbon footprints and greenhouse gas emissions in its solutions. The business raised INR 7.5 crore from Mela Ventures with participation from existing investors 1crowdAngels and 1Fund. Proceeds will be used for geographical expansion, capacity building, team building and application development. Management plans to enhance internal R&D and application engineering capabilities and pursue new application areas as it scales globally toward becoming a category leader. TESSOL makes the PLUGnCHILL range of cold-chain products that replace fossil-fuel–based refrigeration for transport using a proprietary energy-storage technology. Its solutions reduce running costs by roughly 60% and cut diesel consumption by about 1,000 liters per small vehicle per year. Over the last two years TESSOL has implemented its fuel-free technology across poultry, horticulture, dairy and frozen-food sectors with customers such as Godrej Tyson, Abad Fisheries, Mother Dairy, Chitale and Fortis hospitals. Rajat Gupta, an IIT and Harvard alumnus, founded TESSOL in 2013 with a vision of creating a farm-to-fork cold supply chain. The company plans to use the new funds to expand its sales and service network pan India and to develop additional products to support future growth. The article does not disclose revenue or the size/terms of the investment.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2022