Therma°, a cooling intelligence platform that combats food and energy waste, has raised $19 million in Series A funding. Zero Infinity Partners led the oversubscribed round, which also included Deciens Capital, CityRock Venture Partners, Homecoming Capital, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund.
The funding will be used to help Therma° become a scalable electric grid partner by dynamically lowering energy demand from cooling assets and saving customers money on utility bills.
Temperature tracking and energy optimization are used by Therma° Cooling Intelligence Platform to alert customers to equipment breakdowns, reduce energy consumption, and shift electricity usage to off-peak hours. Therma’s vision is to turn cooling systems into virtual power plants that provide cheaper, cleaner energy while reducing CO2 emissions by billions of tons.
“The massive growth of refrigeration and air conditioning globally will greatly accelerate climate change unless we revolutionize cooling technologies,” said Manik Suri, Therma° Founder and CEO.
“How do we best meet the ever-growing demands for cooling in the age of soaring energy prices and electric grid instability? We are excited about Therma’s innovative answer to this crucial and underserved problem,” says John Kwaak, Managing Partner at Zero Infinity Partners.
Over a thousand customers use Therma° in restaurants, hospitality, education, and food manufacturing, including McDonald’s, Domino’s, Marriott Hotels, and NOW Foods. Visit hellotherma.com to join us in transforming cooling.
