Mela Ventures leads Rs 7.5 Cr funding round for TESSOL

Mumbai-based cold chain solution provider, TESSOL has raised Rs 7.5 Crore in fresh round funding led by Mela Ventures in participation with its existing investors including 1crowdAngels and 1Fund.
“The funds raised will be utilized in geographical expansion, capacity building, team building, new products, and application development,” the statement said.
Commenting on the fundraise, Rajat Gupta, Founder & CEO, of TESSOL, said, “The Pandemic has led to a sudden increase in the demand for Food and Pharmaceutical last-mile cold chain globally. Having proven our position as a market leader in India, this is the most opportune time to invest in scaling our solutions globally and planning our foray into new application areas. We shall be investing in further enhancing our internal R&D and application engineering capabilities and building the foundation to be a global category leader in this space.”

Read more…!!!