# Thermal Energy Service Solutions Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/thermal-energy-service-solutions-pvt

- Industry: Industrial Machinery
- Headquarters: Mumbai, India
- Website: www.tessol.in
- Total disclosed funding: $1.6M
- Latest round: Series A (Jun 15, 2022)
- Investors on record: 5

## About

Thermal Energy Service Solutions Pvt. Ltd. specializes in sustainable cold chain technology, providing innovative solutions for maintaining the temperature integrity of sensitive goods across diverse industries.Founded in 2013 and headquartered in Mumbai, India, Thermal Energy Service Solutions Pvt. Ltd. develops advanced cold chain solutions. The company has completed 7 funding rounds, with the latest Series A round in July 2022 raising INR 16.71 million, leading to a current valuation of INR 1045.069 million. Rajat Gupta serves as both the founder and CEO, overseeing the company's strategic direction and growth initiatives.Thermal Energy Service Solutions Pvt. Ltd. focuses on sustainable cold chain technology solutions. Their offerings include multi-compartment and partially refrigerated vehicles, frozen boxes, bags, and cartridges, along with specialized cold rooms for sectors like pharmaceuticals and food. Their technology achieves temperature reductions from 40 degrees C to -40 degrees C in just 30 minutes, catering to clients in India, Australia, New Zealand, and the UAE. This innovative approach addresses critical issues like food wastage and greenhouse gas emissions, appealing to businesses prioritizing sustainability in logistics.In the most recent fiscal year of 2023, Thermal Energy Service Solutions Pvt. Ltd. reported a revenue of INR 1,629,436.50 and an EBITDA of INR -268,804.60, reflecting the company's positioning within the cold chain logistics sector through B2B transactions and partnerships.Following their recent funding round in July 2022, in which they raised INR 16.71 million, Thermal Energy Service Solutions Pvt. Ltd. plans to develop new product lines aimed at enhancing cold chain efficiency. They are targeting expansion into new regions, particularly focusing on markets in Southeast Asia and Europe by the end of 2024. The funding will support these initiatives, positioning the company to advance its product offerings and geographical presence.

## Funding rounds

- Series A, Jun 15, 2022, $1M — 1Crowd, Mela Ventures, 1Fund
- Series A, Oct 1, 2016, $0.6M — Ankur Capital, Infuse Ventures

## Investors

- Ankur Capital (https://capitalatlas.ai/funds/ankur-capital) — Series A
- Infuse Ventures (https://capitalatlas.ai/funds/infuse-ventures) — Series A
- 1Crowd (https://capitalatlas.ai/funds/1crowd) — Series A
- Mela Ventures (https://capitalatlas.ai/funds/mela-ventures) — Series A
- 1Fund — Series A