Gradient, a San Francisco, CA-based provider of HVAC and build products that are good for the planet and for cooling and heating homes, raised $18M in Series A funding.
The round was led by Sustainable Future Ventures and Ajax Strategies with participation by Safar Partners, Climate Tech Circle, Shared Future Fund, At One, and Impact Science. Matt Chagan, Partner at Sustainable Future Ventures, has joined the board.
The company intends to use the funds to:
- Design and develop its second product: window heat pump units that decarbonize heating for cold climates
- Accelerate decarbonization with a focus on solutions for multi-family homes
- Add services like hardware monitoring, maintenance, leasing, and demand response services including integration with virtual power plants
- Add headcount in key roles
Led by CEO Vince Romanin, Gradient builds HVAC products, starting with a replacement for the window AC, designed to give consumers a unit that does not block the window by using heat pump technology and a climate-friendly refrigerant.
Backed by Otherlab, the company has secured more than $9M in non-dilutive government grants from the U.S. Department of Energy, California Energy Commission, and California Strategic Growth Council grants, in addition to venture funding.
FinSMEs
03/02/2023