CleanTech-led Logistics Startup Tessol Raises Follow-on Funding from 1Crowd, Infuse Ventures and Ankur Capital
Tessol, a Mumbai-based startup in the CleanTech-led cold chain logistics space, has recently raised an undisclosed amount in follow-on equity funding from early stage venture capital firm 1Crowd, and existing investors Infuse Ventures and Ankur Capital.
Founded in 2013 by IIT Delhi – Harvard alumnus Rajat Gupta, Tessol (Thermal Energy Service Solutions Private Limited) aims to revolutionize the cold chain distribution in India using its proprietary “Energy Storage” technology based solutions. These products and solutions, while being environmentally sustainable, reduce the lifetime cost of cooling by more than 50% therefore making cold chain on low value products viable. Over the last few years, TESSOL has developed solutions ranging from farm level collection to home delivery and works with the largest FMCG, food processing and e-commerce players in India. Funds raised in this round would be utilized by TESSOL for strengthening the current product suite and bringing some disruptive products that were under development to pilot and commercialization.
