Blog

Funding

Cooling solutions firm Tan90 raises Rs 11.32 Cr

Cooling solutions company Tan90 has raised Rs 11.32 crore in a pre-Series A investment round co-led by Blue Ashva Capital and Capital A. The round also saw participation from 3i Partners and a clutch of angel investors based in Singapore, the Middle East, and India.

The company plans to use the capital for overseas expansion, particularly in Southeast Asia, to enter Tier II cities, and invest in R&D, specifically in the areas of space cooling and data centre cooling.

Tan90 said it is exploring options to enter the European Union markets where carbon credits are in place. Earlier, the company had entered the Philippines, in collaboration with USAID. 

Founded in January 2019 by PhD graduates from IIT Madras, Soumalya Mukherjee, Rajani Kant Rai, and Shiv Sharma, Tan90 offers proprietary energy-efficient passive cooling solutions for transporting perishables, including food and pharmaceuticals. The company says it has cut down carbon emissions in processes by more than 25% and reduced operational costs for clients by 40%.

Going forward, Tan90 aims to expand to thermal management of batteries, industrial cooling, and space cooling. It also plans to double down on its cold chain model ‘Cooling as a Service’, wherein it offers cooling solutions on lease to businesses that do not own blast freezers required to freeze the panels, i.e. thermal batteries.

Appointments

AstraZeneca India appoints Bhavana Agrawal as CFO

Biopharmaceutical company AstraZeneca Pharma India Ltd (AstraZeneca India) has appointed Bhavana Agrawal as the chief financial officer (CFO) with effect from October 1, 2023, following a transition period. She succeeds Rajesh Marwaha, who is retiring as CFO and full-time director of the company, from the close of business hours on September 30, 2023.

A chartered accountant, Agrawal has been a strategic finance partner for businesses for over two decades. Her last role was as CFO of the services business at GE Healthcare for the Middle East, Africa and Russia, where she was responsible for revenue, costs, cash, planning session, and financial closing activities in more than 30 countries. 

At AstraZeneca India, Agrawal will oversee the company’s financial strategy and operations, planning and analysis, and investor relations.

YieldWiseX appoints Sangeeta Shah as VP of legal and compliance

Neo-realty investment platform YieldWiseX, formerly MYRE Capital, has appointed Sangeeta Shah as the vice president of legal and compliance.

YieldWiseX is a subsidiary of Aurum PropTech, under the Aurum WiseX vertical.

The appointment is in line with the company’s vision to build a cutting-edge proptech investment platform and strengthen its senior leadership team, said YieldWiseX.

A seasoned company secretary with over 10 years of experience, Shah has worked with brands such as PolicyBazaar, CarDekho, and A2Z group.

Aurum WiseX aims to build and run global neo-realty platforms for the digital age. Its first platform is YieldWiseX, which claims to have facilitated investments worth over Rs 275 crore, with fractional ownership products across Delhi-NCR, Bengaluru, Mumbai, and Pune, along with structured debt investment offerings.

Aryaman Vir is the CEO of Aurum WiseX.

Other news

Dairy SaaS platform Mr Milkman expands into B2B ecosystem

Mr Milkman, a SaaS platform for diary and milk brands, has launched a comprehensive platform called ‘Distribution Management Solution’, as it expands into the B2B ecosystem for agriculture, food, and beverage products.

The platform is designed to eliminate unnecessary wastage and inefficiencies by automating demand generation and order tracking and optimising fulfilment, said the company. It would offer three primary software components—a business portal, a distributor app, and a field app, which are designed to optimise and enhance the entire distribution process for the said segments. 

The business portal would enable business owners to map key performance indicators and get real-time monitoring and reporting insights into the distribution system, order status, delivery schedules, and product movement.

The distributor app would allow distributors to create, modify and process orders directly with the company in real time. 

The field app is for field agents to manage routes, deliveries, and customer information on the go.

“We have a deep understanding of the supply chain challenges. Expanding into the B2B segment was a natural progression, driven by our extensive knowledge of the dairy industry, where perishability is a critical concern,” said Samarth Setia, Co-founder and CEO of Mr Milkman.

Manappuram Finance launches digital money lending app

Kerala-based Manappuram Finance has launched Ma-Money, a digital lending platform.

The app aims to provide customers with all the financial products offered by Manappuram Finance under one umbrella, said the company in a statement.

The company hopes the app will help it scale up its digital business and reach a wider audience.

Ma-Money is primarily targeted at customers in Tier II and III cities. It offers a range of loans, including personal loans, business loans, car loans, home repair loans, loans for consumer durables, and loans for the healthcare industry, food industry, and small-scale industry.

The launch of Ma-Money is part of Manappuram Finance’s broader strategy to expand its digital footprint and provide customers with innovative and convenient financial products, said the company.

Karbon Card launches expense management card for startups

Karbon Card, a B2B payment solution provider, has launched a mobile-based expense management card for startups and small businesses for their day-to-day operations. 

Card ++ allows payments on platforms such as Google, Amazon, Swiggy and Ola. It comes with a two-click sign-up process, provides uncapped cashback offers, and is free to use, as of now.

“We expect over 5000 businesses to start using this in the next 12 months,” said Kartik Jain, Co-founder at Karbon Card. 

Founded in 2019 by Amit Jangir, Kartik Jain, and Sunil Kumar, Karbon Card provides services such as corporate cards, payout, and invoice management. It has raised close to $27 million in two rounds so far. Its clients include Unacademy, Zepto, and CRED.

Travel tech firm TravClan ties up with Middle East government bodies

TravClan, a B2B travel tech platform, has entered into partnerships with the government bodies and tourism boards of Abu Dhabi, Dubai, Oman, and Saudi Arabia for tourism opportunities. 

The travel tech firm claims to work with over 15,000 travel agents to enable them to build their digital capabilities, along with other on-ground travel services. The company is expecting a potential 20% revenue growth in the next three years for its partner agents through the new partnerships.

“Through the partnerships, TravClan aims to increase the awareness amongst the travel professionals regarding the vast choice of on-ground travel services and unique experiences these destinations have to offer,” said Chirag Agrawal, Co-founder of TravClan. 

The company would undertake joint marketing campaigns with the said nations. 

(The copy will be updated throughout the day with the latest news.)