The Hong Kong-based firm i2Cool, which develops electricity-free cooling technology, has announced that it has successfully raised $12.7 million in a Series A funding round. The investors include Trustar Capital, a private equity investment affiliate of CITIC Capital.
Along with investors from earlier investment rounds, Future Times Technology and Towngas, the Hong Kong and China Gas Company, also contributed money to the round, the announcement said. The firm has raised $4 million in funding over the last two years with its most recent Series A round.
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Neil Shen’s Hong Kong X Technology Fund, Clear Water Bay Venture Capital, China Prosperity Capital, a venture capital business based in Shenzhen, Silicon Harbour Capital, a Shanghai-based investment firm, and more provide support to i2Cool.
The committed funds from this round will be utilised to further research and development of new technologies, broaden the company’s offering, and intensify its international market penetration.
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With the help of the startup’s low-carbon, zero-energy cooling technology, industries including solar panels, grain storage, chemical manufacturing, power and telecom, new energy, and architecture may reduce heat, lower air conditioning costs, and operate more efficiently.
Since its founding in 2021, the company’s goods have been used in more than 100 projects across more than 20 nations and regions, including the US, Southeast Asia, the Middle East, mainland China, Hong Kong, Macao, and mainland China.
About i2Cool
Passive radiative cooling technology is being developed by the revolutionary startup i2Cool to achieve energy savings and net-zero emissions.
