SkyCool Systems Inc., a Mountain View, CA-based innovator of sustainable cooling technologies, raised $5.0m in seed funding.
The round was led by Nadel and Gussman Ventures, with participation from D3 Jubilee Partners and several prominent private and institutional investors. Johannes Douma of Nadel and Gussman will join the company’s Board of Directors.
The company intends to use the funds to scale deployments of its technology that can cool objects with no input energy, using the cool temperatures of earth’s upper atmosphere.
Along with its fundraise, SkyCool announces Arjun Saroya as its new Chief Executive Officer (CEO). Saroya has 20 years of experience leading engineering, product, business, and corporate development, within the clean energy sector. Eli Goldstein, the co-founder of SkyCool, will assume the role of CTO, leveraging his extensive technical expertise to drive innovation and maintain the company’s technology leadership. Co-founder Aaswath Raman, now Associate Professor of Materials Science and Engineering at UCLA, will continue to lead SkyCool’s Technical Advisory Board.
SkyCool’s panel-based cooling product improves the efficiency of refrigeration and air conditioning systems, 24 hours a day. The company is currently focused on deploying panels with grocery stores, refrigerated warehouses, data centers, and other buildings with persistent cooling loads.
The direct film products passively cool buildings, shade structures, and transportation systems. The film is especially impactful in applications where heat stress is threatening lives – including low income communities and emerging economies. Both product lines utilize radiative cooling technology, which sends heat to the cold sky and reduces the temperature of any surface to which it’s applied.
FinSMEs
09/08/2023