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Mumbai's cold chain tech firm Tessol secures funding from 1Crowd, EI

The Mumbai-based firm said it will consume the raised capital fortify its existing product portfolio in addition to work on some under development projects.
BY BEx Bureau
BusinessEx
Jul 31, 2018

Fuel-saving refrigeration technologies startup Tessol, which provides energy-efficient, cold chain storage and logistics solution has raised an undisclosed amount in a bridge round from equity crowd funding platform 1Crowd.

The firm said in a statement that existing investors Infuse Ventures and Ankur Capital had also participated in the round.

The Mumbai-based firm said it will consume the raised capital fortify its existing product portfolio in addition to work on some under development projects.

Tessol which was founded by Rajat Gupta, an Indian Institute of Technology-Delhi and Harvard University graduate, in 2013 was taken into the possession by Thermal Energy Service Solutions Pvt. Ltd.

Dairy, seafood, confectionery, poultry, others have been benefitting from the use of startups thermal energy-based storage solutions. Tessol claims to have a pan-India service network.

There are huge gaps in the Indian food supply chain and while there are several cold chain products available in the market, there is a dearth of viable solutions, said Rajat Gupta, Tessols founder and chief executive officer.

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