Tessol raises follow-on equity funding
Tessol, a Mumbai-based start-up 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 by IIT Delhi-Harvard alumnus Rajat Gupta, Tessol aims to revolutionise the cold chain distribution in India using its proprietary ‘Energy Storage’ technology-based solution, according to a press release.
These products and solutions, while being environmentally sustainable, reduce the lifetime cost of cooling by more than 50 per cent, thereby 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 FMCG, food processing and e-commerce players in India.