Therma Lands $19 Million Series A

SAN FRANCISCO &&num;8212&semi; Therma°, a cooling intelligence platform combating food and energy waste, has landed a &dollar;19 million Series A funding&period; The oversubscribed round was led by Zero Infinity Partners, with participation from Deciens Capital, CityRock Venture Partners, Homecoming<a href="https&colon;//c212&period;net/c/link/&quest;t=0&amp&semi;l=en&amp&semi;o=3775912-3&amp&semi;h=404710051&amp&semi;u=https&percnt;3A&percnt;2F&percnt;2Fwww&period;homecomingcapital&period;com&percnt;2F&amp&semi;a=&percnt;C2&percnt;A0" target="&lowbar;blank" rel="nofollow noopener"> </a>Capita<a href="https&colon;//c212&period;net/c/link/&quest;t=0&amp&semi;l=en&amp&semi;o=3775912-3&amp&semi;h=4216553683&amp&semi;u=https&percnt;3A&percnt;2F&percnt;2Fwww&period;homecomingcapital&period;com&percnt;2F&amp&semi;a=l" target="&lowbar;blank" rel="nofollow noopener">l</a>, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund&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;&NewLine;Cooling, which includes refrigeration and HVAC (heating, ventilation, and air conditioning) is essential for human health&period; It is also the least understood major driver of climate change, accounting for nearly 10&percnt; of global CO2 emissions – including energy use, food waste, and refrigerant leakage&period; Cooling also drives emissions when extreme weather and high energy prices cause power shortages, forcing utilities to turn on expensive and dirty fossil fuel-based &&num;8220&semi;peaker&&num;8221&semi;power plants to maintain infrastructure and safety&period;&NewLine;Therma° Cooling Intelligence Platform uses temperature tracking and energy optimization to alert customers to equipment breakdowns, reduce energy consumption, 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, cleaner energy while preventing billions of metric tons of CO2 emissions&period;&NewLine;&&num;8220&semi;The massive growth of refrigeration and air conditioning globally will greatly accelerate climate change unless we revolutionize cooling technologies,&&num;8221&semi; said Manik Suri, Therma° Founder and CEO&period;&NewLine;Dan Kimerling, Managing Partner at Deciens Capital, says, &&num;8220&semi;Since we invested in Therma° two years ago, 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;&NewLine;&&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,&&num;8221&semi; says Oliver Libby, co-founding Managing Partner of leading NYC impact investing firm CityRock Venture Partners&period;&NewLine;Therma° is currently deployed with over a thousand customers across restaurants, hospitality, education, and food manufacturing including McDonald&&num;8217&semi;s, Domino&&num;8217&semi;s, Marriott Hotels and NOW Foods&period;&NewLine;

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