Therma Lands $19 Million Series A

<p><span class&equals;"legendSpanClass"><span class&equals;"xn-location"><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; <&sol;span><&sol;span><u>Therma°<&sol;u>&comma; a cooling intelligence platform combating food and energy waste&comma; has landed a <span class&equals;"xn-money">&dollar;19 million<&sol;span> Series A funding&period; The oversubscribed round was led by <u>Zero Infinity Partners<&sol;u>&comma; with participation from <u>Deciens Capital<&sol;u>&comma; <u>CityRock Venture Partners<&sol;u>&comma; <u>Homecoming<a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3775912-3&amp&semi;h&equals;404710051&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;homecomingcapital&period;com&percnt;2F&amp&semi;a&equals;&percnt;C2&percnt;A0" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener"> <&sol;a><&sol;u><u>Capita<a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3775912-3&amp&semi;h&equals;4216553683&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;homecomingcapital&period;com&percnt;2F&amp&semi;a&equals;l" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">l<&sol;a><&sol;u>&comma; <u>Ananta Capital<&sol;u>&comma; <u>Kindergarten Ventures<&sol;u>&comma; <u>Collaborative Fund<&sol;u>&comma; and <u>Govtech Fund<&sol;u>&period; Therma° will deploy the funding to become a scalable electric grid partner by dynamically lowering energy demand from cooling assets while saving customers money on utility bills&period;<&sol;p>&NewLine;<p>Cooling&comma; which includes refrigeration and HVAC &lpar;heating&comma; ventilation&comma; and air conditioning&rpar; is essential for human health&period; It is also the least understood major driver of climate change&comma; accounting for nearly <u>10&percnt; of global CO2 emissions<&sol;u> – including energy use&comma; food waste&comma; and refrigerant leakage&period; Cooling also drives emissions when <u>extreme weather<&sol;u> and <u>high energy prices<&sol;u> cause power shortages&comma; forcing utilities to turn on expensive and dirty fossil fuel-based &&num;8220&semi;<u>peaker&&num;8221&semi;power plants<&sol;u> to maintain infrastructure and safety&period;<&sol;p>&NewLine;<p>Therma° Cooling Intelligence Platform uses temperature tracking and energy optimization to alert customers to equipment breakdowns&comma; reduce energy consumption&comma; and move electricity usage to off-peak hours&period; Therma&&num;8217&semi;s vision is to transform cooling systems into virtual power plants that provide cheaper&comma; cleaner energy while preventing billions of metric tons of CO2 emissions&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The massive growth of refrigeration and air conditioning globally will greatly accelerate climate change unless we revolutionize cooling technologies&comma;&&num;8221&semi; said <span class&equals;"xn-person">Manik Suri<&sol;span>&comma; Therma° Founder and CEO&period;<&sol;p>&NewLine;<p><span class&equals;"xn-person">Dan Kimerling<&sol;span>&comma; Managing Partner at Deciens Capital&comma; says&comma; &&num;8220&semi;Since we invested in Therma° two years ago&comma; they have tripled revenue each year&period; Therma&&num;8217&semi;s vision to transform refrigeration into energy storage will advance energy security around the world&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;It is rare to find a start-up that successfully reinvents a legacy piece of ubiquitous technology like a refrigerator to prevent both energy and food waste&comma;&&num;8221&semi; says <span class&equals;"xn-person">Oliver Libby<&sol;span>&comma; co-founding Managing Partner of leading NYC impact investing firm CityRock Venture Partners&period;<&sol;p>&NewLine;<p>Therma° is currently deployed with over a thousand customers across restaurants&comma; hospitality&comma; education&comma; and food manufacturing including McDonald&&num;8217&semi;s&comma; Domino&&num;8217&semi;s&comma; Marriott Hotels and NOW Foods&period;<&sol;p>&NewLine;