Infuse Ventures and Ankur Capital co-invest in TESSOL, a Cold Chain technology startup
IIMA CIIE’s sustainability and cleantech fund, Infuse Ventures, along with Ankur Capital have made an undisclosed amount of series-A investment in TESSOL, a cold chain technology startup based in Mumbai. Tessol had previously received a seed investment from Infuse Ventures in 2014.
TESSOL’s PLUGnCHILL range of products eliminates the use of fossil fuel for cold chain transport systems using their proprietary energy storage technology. These solutions not only reduce the running costs of these units by 60% but also reduce diesel consumption by 1000 liters per small vehicle per annum.
Over the last 2 years, TESSOL has implemented it fuel-free technology across poultry, horticulture, dairy and frozen food sector with some of the marquee players like Godrej Tyson, Abad Fisheries, Mother Dairy, Chitale and Fortis hospitals.